Obama proposes tax credit for 50 percent health insurance for small businesses

Obama proposes tax credit for 50 percent health insurance for small businesses -

Illinois Senator Barack Obama, Democratic candidate for president, recently announced a plan to offer small companies a significant tax credit if they offer their employees group health insurance.

The tax credit would reimburse employers of small companies up to 50 percent of premiums workers, reported a Associated Press article New York Times Article weekend.

this plan would cost about $ 6 billion annually. Critics of the proposal say it is too expensive and does not provide enough details.

But small businesses are the most vulnerable to high costs of health care, and many simply can not afford to provide health insurance benefits.

Senator Obama proposed a plan based on a proposal of Senator Hillary Clinton of New York, a former presidential candidate.

"I announced my plan to provide real relief for small business owners crushed by rising costs, an idea championed by my friend Hillary Clinton, who has been a leader in our fight to ensure all Americans, "Sen. Obama said.

Republican presidential candidate, Arizona Senator John McCain, also proposed a plan to provide health insurance to the tax credits. But Senator McCain's plan offers tax credits for individuals rather than companies.

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