Posted: Apr 28, 2005 By: Gary Owen

Subject: Don't eliminate HCTC !!!

Comment: I have done my own taxes my entire life. While the forms require careful reading, they are not overly complicated. This year I filed form 1040, schedule B and schedule D, as well as 5329, 8885, 8606. I only have a high school education and electrician appreticeship, so I am not a genius. I am 55 years old.

My concern is that you will remove the HCTC . I along with thousands of of
others in our country had their pensions cut and their healthcare insurance
eliminated when illegal foreign imports put many steel companies out of
business. The only way we are getting by is because of the "Health Coverage
Tax Credit" (HCTC) administered by the Internal Revenue Service. My pension
went from $1200 a month to $1050 a month after the PBGC took it over. My healthcare insurance was $150 a month until we lost it because of LTV Steel
bankruptcy. We then had to pay $1,700 a month to replace our healthcare insurance, until I reached age 55. Since we now qualify for HCTC we now pay $598 a month for coverage. PLEASE PLEASE PLEASE don't eliminate the Health Coverage Tax Credit (HCTC). We are currently withdrawing money from my IRA early and paying penalties to make ends meet. We would be killed financially without HCTC.

Thank you for listening.