Employee Tax Credits Offered In Exchange For Vaccination
President Joe Biden announced on Wednesday that small businesses can receive a tax credit for providing paid leave to employees who need time to get vaccinated or recover from its side effects.
The tax credit is up to $511 a day, per employee for businesses that employ less than 500 workers, reports the Associated Press. The rationale behind the White House's move is that the tax credit will ensure businesses don't suffer because their workers chose to get vaccinated, and the White House hopes that will lead to employers giving their workers paid time off, which will lead to increased vaccination.
The White House is also encouraging large employers to provide the paid time off to workers who choose to get the shot, but they wouldn't receive a tax credit.
The White House's efforts to encourage more people to get vaccinated against COVID-19 comes at a time where some people are electing not to get a second shot. CBS News Reported on Wednesday that through early April, about 8 percent of the people who got the first Pfizer or Moderna shot didn't show up for their appointment to get their second shot. That translates to more than 5 million people.
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