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Senator Vitter Introduces Health Care Deduction Bill for SE
Senator Vitter, Chairman of the Senate Small Business and Entrepreneurship Committee, introduced a huge package of tax deductions for small businesses, including the full deductibility of health insurance for the self-employed.
S. 1827, Small Business Tax Compliance Relief Act, "does not see to alter tax rates or pursue wholesale reforms. Instead, the legislation is mostly technical in nature and provides relief from provisions frequently cited as overly restrictive or onerous for a small business," stated the Senator in a letter to supporters. Read the Senator Vitter's letter.
The NASE has long championed the full deductibility of health insurance for the self-employed. "The inability for the self-employed to deduct the cost of their health insurance is a significant financial burden, increases their tax liability by nearly 15.3% annually than other business owners," NASE in its letter of support. Read NASE's letter of support.
We look forward to working with the Chairman and his colleagues in advancing this important piece of legislation.