Petersburg Medical Center loses nearly $1 million in federal tax credits due to 'big beautiful bill'

Petersburg Medical Center loses nearly $1 million in federal tax credits due to 'big beautiful bill'

Petersburg Medical Center will lose nearly $1 million in expected federal tax credits after the federal reconciliation bill retroactively eliminated a one-third portion of the delayed COVID-era employee assistance funding the hospital was eligible to receive. The hospital had applied for around $3 million through the Employee Retention Tax Credit program but will now receive only two-thirds of...