Senator Christopher “Kit” Bond, chairman of the Senate Committee on Small Business has issued a call to Congress to end the glaring inequity between the self-employed and big business. Bond introduced self-legislation to make 100 percent of health care premiums tax deductible for the self employed this year.
According to Bond, the bill, introduced recently, will make health insurance more affordable to the self-employed and help more families get the health insurance coverage they need. Under current law, the self-employed may deduct only 60 percent of their health care costs. Next year the self-employed will be able to deduct 70 percent.
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“Full deductibility is the biggest roadblock keeping the self employed from getting the health insurance coverage they and their families need and deserve,” Bond said.
