This deduction that I believe the gentleman is talking about is one that we would call pretax. This is the exact same pretax tax treatment that is given by corporations. So what we are trying to say is, these people who are self-employed, these people who are honest, hard-working, taxpaying families across this country would then have the advantage, the same tax advantage that would be given by law to someone who worked for a corporation.
Pete Sessions: “This deduction that I believe the gentleman is talking about is one that we would call pretax. This is the exact same…”
Editor's note · Context
Discussing tax deductions for self-employed individuals during a floor speech.
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