CLINTON TO SIGN MURDOCH TAX BREAK

President Clinton today pledged to sign legislation that combines tax deductions for the self-employed with a huge tax break for media mogulRupert Murdoch. TIME Washington correspondent John Dickerson says such there are thousands of similar exemptions in the tax code, creating the complicated tax structure that Republicans say they want to dismantle. The bill, approved by Congress, eventually would let an estimated 3.2 million self-employed people deduct 30 percent of theirhealth insurance premiums. It also would eliminate tax breaks for companies that sell TV stations to minorities, while retaining the benefit for Murdoch's contract to sell an Atlanta station to a minority firm. That would save Murdoch an estimated $63 million. The exception was inserted by Sen. Carol Moseley-Braun (D-Ill.) to help a group of Illinois investors involved in the Murdoch deal.