Political Quotes

“If we just increase the exemption, then the next Congress can come back and lower it way back again. Back in 1992, before I was elected to Congress, there was a bill that was introduced that would lower the then-exemption from $400,000 to under $200,000, which would make it even more obstructive. We have introduced a bill called the Small Employer Tax Relief Act of 2001, H.R. 1037, that is a bipartisan bill. I signed onto it, helped draw it, along with the gentlewoman from New York (Ms. Velazquez), who is the ranking minority member on the Committee on Small Business. I believe that this is a breakthrough, a bill that really will help small businesses. First of all, small businesspeople that are not incorporated should be allowed to write off 100 percent of the cost of health and accident insurance for the self-employed. My brother is facing $600 and $700 a month for health and accident insurance, and there are small businesspeople that actually go out of business, decide to work for somebody else, simply because they can get the health insurance benefits. So it is time that this Congress really stepped up to the plate and said, look, for too long we have gone with playing games. Now I think it is only 60 percent is deductible.”