Washington (PRESS RELEASE – May 19, 2010) — Speaker Nancy Pelosi issued the following statement after the Obama Administration announced new guidance to make it easier for small business owners to take advantage of tax credits in the new health insurance reform law, including clarifying that a small business’ substantial tax credit under reform will not be reduced if they also receive a state subsidy, and allowing them to receive tax credits for add-on dental and vision coverage in addition to regular health insurance: “These new guidelines will help make the benefits of health insurance reform a reality for even more of America’s small businesses.
They will ensure that our entrepreneurs and business owners – the engines of our economic growth – can take full advantage of measures to reduce costs and have every opportunity to create jobs, grow, and thrive. “Congressional Republicans oppose this progress for our small businesses and economy. Every time they call for repeal, small businesses should hide their wallets – because Congressional Republicans will sacrifice gains for small business to protect insurance company profits and a status quo of skyrocketing costs. Democrats are giving Main Street the tools it needs to compete, succeed, innovate, and do right by their employees.”