Political Quotes

“Mr. President, I rise to introduce the Fire Sprinkler Incentive Act. I am very pleased to be joined by my colleague from Delaware, Senator Carper, in introducing this bipartisan bill. Our bill would encourage commercial building owners to invest in life-saving fire safety upgrades. While building codes require sprinklers in new commercial buildings, a great number of structures across the U.S. were built and put in service before sprinklers were required. This is of significance in Maine, which has some of the oldest housing stock in the country and which has experienced deadly apartment building fires. Maine has a large number of older, historic buildings--buildings that generally may not be required to have fire sprinklers. According to the Maine State Housing Authority, Maine has the sixth oldest housing stock in the country. In fact, many of the historic areas of Portland were built following a devastating fire in 1866. This fire destroyed most of Portland's commercial buildings, many of its churches, and countless homes. Fire sprinklers are very effective at preventing deaths caused by fires. Small business building owners find it difficult, however, to fund adding retrofit sprinklers. Our bill would provide two tax incentives to encourage building owners to make this investment. Currently, commercial building owners must depreciate fire sprinkler retrofits over a lengthy 39-year period. The period for residential buildings is 27 and a half years.…”