Don Nickles: “on behalf of myself, Senator Hagel, Senator Abraham, Senator Domenici, and others, the amendment that we proposed last…”

“on behalf of myself, Senator Hagel, Senator Abraham, Senator Domenici, and others, the amendment that we proposed last night we have modified. We did receive some requests from Senators to delete the provision that dealt with corporate deductibility of tax exempts. That was not a major portion of the amendment. We did delete that. I might mention I think it is a good provision. It is a provision that is in the House bill, so it will be in conference. Mr. President, this amendment accelerates self-employed deductibility for insurance. It allows self-employed individuals to be able to deduct a greater proportion of their health insurance needs. It increases it. For example, in 1997, current law is 40 percent; it increases it to 50 percent. In 1999 it increases it to 60 percent. And so on.”