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The NASE is winning legislative battles as self-employed issues gain attention and momentum in Congress. And these important victories could mean a boost to your business’s bottom line. Congress is moving closer to Social Security reform strategies advocated by the NASE. Lawmakers are also showing new support for increasing the deductibility of health insurance premiums to 100 percent before the 2007 deadline. And a bill that requires Congress to own up to private sector costs of pending legislation is close to passage. Together, these measures affect the taxes you pay, the retirement benefits you depend on and the government programs your dollars support. Now -- while these critical issues simmer on the political front burner -- is the time to turn up the heat on your legislators. Contact them immediately and voice your viewpoints on the issues at hand. Social Security Reform Sees Action In Congress A number of bills recently introduced in Congress would move the nation toward the kind of Social Security reform that the NASE advocates. We favor allowing a portion of existing Social Security taxes to be placed in individual accounts, like 401(k)s. The money could then be invested in carefully regulated stock market investments. The proposal garnering the greatest support thus far is a bipartisan effort that grew out of recommendations by the National Commission on Retirement Policy. The proposal is sponsored by Sen. John Breaux, D-La., Sen. Judd Gregg, R-N.H., Rep. Jim Kolbe, R-Ariz., and Rep. Charles Stenholm, D-Texas. Elements of another bill, S. 1792 sponsored by Sen. Daniel Patrick Moynihan, D-N.Y., also move in the direction advocated by the NASE. Other promising bills include:
If you know these members of Congress or live in the areas they represent, let them know about your Social Security concerns as a self-employed person. The NASE will continue to press for a solution that provides appropriate relief for the nation’s 15 million self-employed entrepreneurs. And our voice will be stronger than ever thanks to the National Dialogue Council on Social Security. The council was created through a House bill sponsored by Rep. Bill Archer, R-Texas, and the NASE was named to the council as the sole representative for self-employed Americans. Health Insurance Deductibility Catches The Interest of Lawmakers The NASE’s persistent push to step up the timetable for 100 percent deductibility of health insurance premiums is paying off on Capitol Hill. More lawmakers are now seeing the issue from our point of view and supporting our efforts. Last year Congress raised the self-employed deduction, in stages, to 100 percent by the year 2007 -- not nearly soon enough. We want the 100-percent deduction implemented by 1999, and now, many members of Congress agree. But we still need to persuade more legislators to take a stand in favor of the faster timetable. All NASE Members affected by the current tax inequity should contact their senators and representatives right away and request prompt action to raise the deduction to 100 percent by 1999. Mandates Information Act Close To Passing For too long, Congress has enacted laws that involve massive private sector costs without owning up to these costs in advance. The NASE strongly supported a bill in the House of Representatives that would require Congress to disclose costs in advance when those costs to the private sector top $100 million. H.R. 3534, the Mandates Information Act sponsored by Rep. Gary Condit, D-Calif., and Rob Portman, R-Ohio, has already passed the House. Now the NASE is strongly urging the Senate to follow suit. Confronting costs in advance represents the kind of honesty and accountability the American people want to see in their national government. Return to the table of contents |
Action Alert! Your voice could be the deciding difference as Congress considers issues key to self-employed business owners. Lawmakers are now taking preliminary action on Social Security reform and will hopefully quicken the timetable for increasing the self-employed health insurance deduction to 100 percent. Contact your legislators today to keep the momentum going in our direction. Call (202) 224-3121 and ask for the senator or representative who represents your area. If you’re not sure who your legislator is, tell the operator your zip code and you’ll be connected with the right office. You can also send an e-mail directly to your legislators from the NASE Web site, Act now while congressional attention is focused on issues that impact your business! |
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