[Congressional Record Volume 143, Number 92 (Thursday, June 26, 1997)]
[Senate]
[Page S6479]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   REVENUE RECONCILIATION ACT OF 1997


                     Amendment No. 551, As Modified

  Mr. CHAFEE. On behalf of Senator Nickles, I send a modification of 
his amendment No. 551 to the desk and ask unanimous consent that it be 
so modified.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The modification is as follows:
       On page 212, between lines 11 and 12, insert:

     SEC.    . INCREASE IN DEDUCTION FOR HEALTH INSURANCE COSTS OF 
                   SELF-EMPLOYED INDIVIDUALS.

       (a) In General.--The table contained in section 
     162(l)(1)(B) is amended to read as folllows:

``For taxable years beginning in calendar year--                       
                                         The applicable percentage is--
    1997.............................................................50
    1998.............................................................50
    1999 through 2001................................................60
    2002.............................................................60
    2003.............................................................70
    2004.............................................................80
    2005.............................................................85
    2006.............................................................90
    2007............................................................100

       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     1996.
       On page 159, line 15, strike ``December 31, 1999'' and 
     insert ``May 31, 1999''.
       On page 159, line 18, strike ``42-month'' and insert ``35-
     month''.
       On page 159, line 19, strike ``42 months'' and insert ``35 
     months''.
       On page 160, lines 10 and 11, strike ``December 31, 1999'' 
     and insert ``May 31, 1999''.
       On page 160, lines 19 and 20, strike ``December 31, 1999'' 
     and insert ``May 31, 1999''.

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