The Republican leader of the House Ways and Means Oversight Subcommittee plans to hold a hearing to probe the efficacy of the Small Business Health Care Tax Credit in the aftermath of a report that found a disappointing number of small businesses taking advantage of the tax break in the health care reform law.
Rep. Charles Boustany, R-La., who chairs the Oversight Subcommittee on the tax-writing Ways and Means Committee, announced the hearing Tuesday. It came in response to a report released Monday by the Treasury Inspector General for Tax Administration that found only 228,000 taxpayers had claimed the credit as of May, a far lower number than had been anticipated despite extensive outreach efforts by the Internal Revenue Service to small businesses (see Claims for Small Business Health Care Tax Credit Much Lower than Expected).
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