    [Public Papers of the Presidents of the United States: William J. Clinton (1995, Book I)]
    [April 6, 1995]
    [Pages 471-472]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Intent To Sign Self-Employed Health Insurance
    Tax Deduction Legislation
    April 6, 1995

        I intend to sign H.R. 831 because it reinstates and expands a much
    needed law that allows 3.2 million self-employed Americans and their
    families to deduct 25 percent of the cost of their health insurance,
    increasing to 30 percent in 1995.
        This legislation is good for the country. I included it as part of
    my health reform bill last year because it restores fairness and
    security to an important group of Americans who work hard and play by
    the rules. Absent my approval of this legislation, almost 3.2 million
    self-employed workers--doctors, lawyers, farmers, artists, accountants--
    would not be able to claim this deduction for health insurance premiums
    on their 1994 income tax returns. By making this deduction permanent, we
    are treating them more like other businesses, and we are making them
    more competitive. And by making health care more affordable, we are
    shrinking the ranks of the uninsured and expanding coverage for more
    middle class Americans.
        Because this health care benefit is so important, I will sign this
    legislation. But I am troubled by the fact that the conference committee
    took out a provision of law that simply would have required billionaires
    who made their money in this country to pay the taxes they owe. Instead,
    they decided to let them evade American income taxes by giving up their
    American citizenship. This is wrong. Billionaires who make their
    fortunes in this country ought to pay taxes here like everyone else. I
    am going to work to change this law in the future.
        In addition, this bill carves out a special exception for one
    pending deal. This is the kind of dealing that goes on all the time in
    Washington.
        That's why we need a line-item veto that covers both spending and
    special tax provisions. When I get it I can assure you I will use it to
    weed out special interest loopholes like the one in this bill.
        But because of the important benefits of this legislation to our
    Nation's self-employed and their families, I could not justify a veto.
    The economic and health care interests of 3.2 million Americans and
    their families are too important to be held hostage.

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