Elijah Lewis: “Mr. Speaker, on March 13, 2007, the Ways and Means Subcommittee on Oversight held a hearing on housing tax issues…”

“Mr. Speaker, on March 13, 2007, the Ways and Means Subcommittee on Oversight held a hearing on housing tax issues related to the rebuilding of communities affected by Hurricanes Katrina, Rita and Wilma. These hurricanes created and caused more damage than any other natural disaster and left over 700,000 residents in the Gulf Coast without housing. The Congress has provided $15 billion in tax relief to victims of the hurricanes, but it is clear that we must do more and we can do more. The Katrina Housing Tax Relief Act of 2007 will help families affected by the hurricane to return home. This bill will extend incentives for low-income rental housing. It will also expand existing incentives so they can be used to refinance homes that need to be rebuilt from scratch. Mr. Speaker, this is a good bill. This is a necessary bill. I wholeheartedly support H.R. 1562 and urge all of my colleagues to vote in favor of this bill.”