For the first time, a federal tax credit to help you save for your retirement has been expanded to help companies invest in the health care industry.
The Investment Company Institute said Wednesday that it will extend the investment tax credit from two years to three.
The extension is in response to the Affordable Care Act, which made it easier for businesses to invest in health care.
In a blog post, the institute said that the extension of the tax credit will make it easier to fund the investments that are essential to building a strong workforce and helping Americans afford the health insurance they need.
The Institute has long encouraged companies to invest, but the latest extension of a tax credit for investments in health-care technology and other health-related businesses has been controversial.
The Affordable Care Acts expansion of the health savings account has generated much debate among economists.
Critics have argued that it encourages businesses to make investments that will pay dividends in the future, instead of paying them to workers as they would if the company was investing directly in health.
The American Hospital Association, for example, has argued that the expansion of tax credits for health care investments has made it more difficult for employers to retain good employees.