[Congressional Record Volume 141, Number 33 (Wednesday, February 22, 1995)]
[Extensions of Remarks]
[Page E401]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


  PERMANENT EXTENSION OF THE HEALTH INSURANCE DEDUCTION FOR THE SELF-
                                EMPLOYED

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                               speech of

                          HON. C.W. BILL YOUNG

                               of florida

                    in the house of representatives

                       Tuesday, February 21, 1995

       The House in Committee of the Whole House on the State of 
     the Union had under consideration the bill (H.R. 831) to 
     amend the Internal Revenue Code of 1986 to permanently extend 
     the deduction for the health insurance costs of self-employed 
     individuals, to repeal the provision permitting 
     nonrecognition of gain on sales and exchanges effectuating 
     policies of the Federal Communications Commission, and for 
     other purposes.

  Mr. YOUNG of Florida. Mr. Chairman, I rise in strong support of H.R. 
831, and urge my colleagues to join with me in approving this important 
legislation.
  As one who has previously cosponsored legislation that would extend 
the 25-percent personal income tax deduction for health insurance cost 
for individuals who are self-employed, I am pleased that the Ways and 
Means Committee and the House leadership have brought this bill forward 
in such an expedient manner. It is important that we move quickly in 
approving this legislation, which lapsed on December 31, 1993, because 
the American taxpayers deserve to know that they can count on this 
deduction as they prepare their taxes before the April 15 filing 
deadline.
  Fairness dictates that we restore this deduction. We should not 
punish individuals based solely on the fact that they are self-
employed. Fairness also dictates that this deduction be made permanent 
so that the taxpayers know year to year that they can count on this 
deduction. This Congress should be encouraging individuals to purchase 
health care insurance, and H.R. 831 will play a significant role in 
reaching this goal.
  It is my hope that our colleagues in the other body will move 
expeditiously in approving this legislation, so that self-employed 
individuals in our Nation are able to prepare their tax returns before 
the April 15 filing deadline and know that they will not have to file 
amended returns, and also secure in the knowledge that this important 
deduction will not lapse again. I urge my colleagues to join with me in 
strong support of this legislation.


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