WASHINGTON – U.S. Sen. Olympia J. Snowe has joined Sen. Christopher M. Bond of Missouri in introducing legislation to allow those who are self-employed to deduct health insurance costs.

“This legislation would give vital, immediate relief to America’s self-employed, putting them on equal footing – at last – with America’s corporations,” said Snowe, a member of the Senate Committee on Small Business who has long advocated full deductibility. “From investors to start-up businesses, self-employed workers make up an important and vibrant part of the small business sector. Yet too often, they are forgotten when providing benefits and assistance – which is one reason nearly 11 percent of uninsured workers in America are self-employed.”

Snowe said that although Congress has made progress on meeting the needs of the self-employed and is currently phasing in the benefit, immediate deductibility would make a significant difference for self-employed people.

“There’s no need to wait any longer to provide this full deductibility. America’s entrepreneurs aren’t asking for a helping hand – but they are asking for the same courtesy given to large corporations that are allowed to deduct health insurance costs. The Bond-Snowe bill will simply restore fairness to the system – and help us continue to make progress in reducing the number of uninsured in our nation,” she said.