The Hill News

The first vote of the new U.S. House will be to increase taxes on small businesses.   That’s right.  A $4 billion tax hike on small businesses is exactly what Representatives are supporting if they vote to repeal the Affordable Care Act (ACA).

Last year Congress approved $4 billion for health insurance tax credits small businesses could tap into for 2010 taxes if they offered the benefit to their employees.  That figure was Congress’s best estimate of how much each year would be needed under this important ACA effort to make health insurance more affordable.  About four million businesses qualify for the tax credits because they have fewer than 25 employees with average wages below $50,000.

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