Washington, April 02: US President Barack Obama praised his healthcare reform law as a ‘victory,’ but warned that it will not cut the budget deficit overnight.
Obama made the remarks during a speech in the northeastern state of Maine. He tried to focus attention on the immediate benefits of the new overhaul for small businesses.
Obama said the sweeping reforms pave the way for a boosted economy and employment. The US president also noted that children would remain on their parents’ insurance until the age of 26.
Obama promised that many Americans would receive tax breaks to cover their insurance.
The 35 percent tax credit for small businesses is part of a 940-billion-dollar package of reforms to the healthcare system.
After his speech Obama made an unannounced stop in Framingham, Mass., for a briefing from Gov. Deval Patrick about the state’s flood recovery efforts.
Obama was scheduled to travel to Boston to speak at a pair of fundraisers for the Democratic National Committee.
——–Agencies