Political Quotes

“I thank you for that. For the folks watching at home, we just passed a significant disaster tax bill, which is critical to helping disaster survivors across the country, and it includes bipartisan legislation that I introduced, along with Senator Wyden and Senator Cassidy. Our Protect Innocent Victims Of Taxation After Fire Act would make sure that individuals, families, and entire communities who have suffered from utility-caused wildfires can receive the full compensation to rebuild their lives without fear that their settlement payments will be subject to taxes. In my home State of California, over 70,000 people have been impacted by the destruction of the Butte fire, the North Bay fire, and the Camp fire in recent years. Now, if you can imagine when you are wading through the ashes of your former home and thinking about how you can possibly begin to rebuild, the last thing you should have to worry about is that the government is going to tax the payment from your legal settlement that already fails to cover the full cost of your losses in the first place. Disaster settlement funds aren't income. It is not an asset. It is compensation for what a family has lost. It is meant to be an opportunity to begin to rebuild your life--an opportunity that should not be diminished because our Tax Code is outdated.…”