'Obamacare' Tax Credit a Disappointment

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Many small businesses are refusing to apply for the tax credit under the Obama administration's new health plan, saying it's too time consuming and the financial rewards aren't worth the effort. 

About 4 million companies were eligible for the tax credit under the Affordable Care Act in 2010. But only about $170,000 claimed it.

The Obama administration now wants Congress to expand the program to make the process simpler and allow more businesses to qualify.

But the chairman of House Small Business Committee says the entire plan should be repealed not revised.

"They completely missed the target on this thing," Rep. Sam Graves, R-Mo., said. "I don't think expanding it is going to make any difference whatsoever."

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