Senate approves health care tax break incentive
DES MOINES (AP) — The Iowa Senate has approved legislation offering a tax break to small businesses if they cover part of employees' health insurance.
The Democratic-majority Senate unanimously approved the plan Monday.
Under the Affordable Care Act, a small business that employs up to 24 people and chooses to cover 50 percent of their employees' health insurance costs gets a federal income tax break.
If the bill passes, these businesses would get an additional state income tax break, worth a quarter of their federal savings.
The legislation will move to the House. A spokesman for Gov. Terry Branstad said he would have to review the legislation before taking a position.