| For Immediate Release: | Contact: | Kristin Oberlander
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Association Submits Letter Requesting Ways & Means Subcommittee Explore Legislation Providing Permanent Deduction
Washington, D.C., July 31, 2012 – On behalf of the 21 million self-employed Americans, the National Association for the Self-Employed (NASE) is, once again, holding Congressional leaders accountable for the lack of true small business legislation in the 112th session. Earlier this week, the NASE submitted a letter to the House Ways and Means Subcommittee on Tax and Select Revenue formally requesting a hearing on H.R. 6102, America’s Small Business Tax Relief Act of 2012.
"As the legislative calendar quickly compresses, the NASE is calling on House leaders to move quickly to address the significant inequities faced by the self-employed community as it relates to their inability to deduct their health insurance premiums,” stated NASE Director of Government Affairs, Katie Vlietstra. “H.R. 6102 includes several additional provisions that would lift the tax burden placed on the self-employed and small business community. We stand united as we advocate for practical solutions to supporting and encouraging small business growth in the U.S.”
In June 2012 the NASE released its national health care survey, in which 85% of respondents indicated that rising health coverage costs have been detrimental to themselves, their families, their businesses and their “bottom line” over the past three years. Juxtapose this against the fact that in 2011, the number of insured self-employed was at its highest, 77%.
The self-employed are forced to pay an average of $1800 more in taxes per year than their big business counterparts because of they do not have the ability to deduct their health insurance premiums as a business expense.
The bill was introduced by champions of the self-employed in the House, Representatives Jim Gerlach (R-PA) and Ron Kind (D-WI) earlier this month. The health insurance deduction is part of a larger package of permanent deductions aimed at providing fiscal clarity for the self-employed in a tax environment that is often clouded by temporary one to two year fixes.
Read the full text of the letter here.