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Support for Small Businesses

Since Iowa’s small businesses pay 18 percent more for health insurance than big businesses, the Iowa Legislature is considering a bill to help small businesses pay for rising health care costs for their employees.|(From Rep. Sharon Steckman)

Since Iowa’s small businesses pay 18 percent more for health insurance than big businesses, the Iowa Legislature is considering a bill to help small businesses pay for rising health care costs for their employees.

The bill, which has already been approved by the Senate, would help 60,000 Iowa businesses with 10 or fewer employees by providing a state tax credit worth 25 percent of the federal credit. For example, a company that spends $50,000 a year providing health care benefits would receive a state tax credit of $4,375 and a federal credit of $17,500.

Last week, the Iowa Senate approved two other pieces of legislation designed to help small business and help Iowans get training to transition to a new career.

The bills face an uncertain future in the Iowa House.|

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