The companies that have 25 or fewer employees will be eligible for new tax credits, which will at least 159,00 small businesses in Illinois. In addition, the report showed that 48,400 Illinois small businesses will be eligible for a maximum credit of 35 percent, accounting for companies that have 10 or fewer workers who earn about $ 25,000 or less per year.
The tax credits will be issued this year and are the first round of funding for small businesses that provide group health insurance benefits to employees. In 2014, small businesses will be eligible for 50 percent tax credits when meet certain requirements.
Typically small businesses are struggling to be able to afford health insurance and these tax credits will help alleviate some of the burden.
Opponents of the tax credits they believe will encourage employers to keep wages low and avoid hiring new employees is still impossible to discuss these credits will help businesses.
Ron Pollack, executive director of Families USA, said: "Our nation has counted on small business, personal local services and as an inexhaustible source for economic growth. The new law on health reform will provide the much needed relief to these businesses so they can provide health coverage for their workers. "
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