Obama Proposes $6 Billion Tax Credit for Small Businesses

According to the Wall Street Journal, Democratic presidential hopeful Barack Obama is making an attempt to appeal to small businesses that provide their employees with health insurance.

During a speech given on Sunday to a Latino civil rights group, Obama revealed his $6 billion/year tax credit proposal that would attack one of the nation's greatest challenges of achieving universal health coverage.

The presidential candidate's former opponent from the Democratic primaries, Senator Hillary Clinton, proposed a tax credit that was very similar to Obama's version back in 2007.

The Obama campaign has addressed the fact that the newly unveiled tax credit proposal has been generated in response to seemingly outrageous health-care costs for small businesses, which are jeopardizing their long-term future.

Obama told those in attendance for his speech yesterday, "We know that small businesses are the engines of economic prosperity in our communities, particularly Latino communities. The plan would help more employers provide health benefits for their workers instead of making it harder for them, as McCain would do."