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News & Views |Roth, Boxer Seek to Expand Self-Employed Health DeductionFriday, May 29, 1998 OnLine An employee health care benefits amendment may be added to the tobacco bill (S.1415) by Senate Finance Committee Chairman Bill Roth, R-Del., and Sen. Barbara Boxer, D-Calif., when debate on the bill resumes the week of June 1. The proposed amendment would allow all self-employed individuals and all employees who are not eligible for employer-subsidized health care to fully deduct the premiums they pay for health coverage, according to a Senate Finance Committee press release. "Our amendment uses a portion of the revenue raised in this bill to level the playing field of the tax treatment of health insurance," said Roth and Boxer in a letter to Senate colleagues. "It is only right that the proceeds of taxes imposed to increase the future health of our young be used to help all Americans who purchase health care insurance themselves." Surplus should go to IRAs, Roth says Roth also intends to introduce legislation allocating a portion of the budget surplus to "set up personal retirement accounts for all working Americans," the Senate Finance Committee chairman said May 28 in a press release. The surplus is estimated to reach $385 billion over the next five years and $1.8
trillion over the next eleven years, according to the Office of Management and Budget. |
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