Wisconsin Congressional Democrats Call for Inclusion of Wisconsin in Federal Tax Recovery Package
WASHINGTON, DC (November 29, 2018) – Today, U.S. Representatives Mark Pocan (WI-02), Ron Kind (WI-03), and Gwen Moore (WI-04), and U.S. Senator Tammy Baldwin (D-WI) called for the inclusion of Wisconsin families, farmers, and businesses impacted by flooding in an upcoming tax package aimed at providing federal disaster relief. The tax package, which was introduced without bipartisan consideration, excludes Wisconsin from a long list of high-profile natural disasters.
“Wisconsinites working to rebuild their homes, farms and businesses deserve the same federal disaster assistance as those who caught the attention of the national media. We are calling on Congressional leadership to step up to the plate and give Wisconsinites a fighting chance as they work to repair and rebuild their lives,” said the lawmakers in a joint statement.
The letter, addressed to Speaker Paul Ryan, House Minority Leader Nancy Pelosi, Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer, demands that Wisconsin, and all federally-declared disasters, are eligible for disaster tax benefits. The proposed tax package, introduced just this week, bypassed a full-committee markup in Ways and Means, on which Rep. Ron Kind serves, and is scheduled for a vote on the House floor tomorrow.
In disaster situations, targeted tax benefits are a commonly used way to help individuals and businesses recover. The proposed legislation would ensure losses from disasters are deductible; waive the 10 percent penalty for withdrawing funds from retirement accounts; and protect working families from losing critical tax benefits due to job displacement from the storms. The bill would also create a credit for farms and businesses that were destroyed, in order to retain the workforce while the operations rebuild.
In late August and early September, heavy rainfall, severe flooding, strong winds and tornadoes damaged and, in some cases, completely destroyed, homes and businesses across Wisconsin. Tragically, two Wisconsinites were killed in storm-related incidents. It is critical that impacted Wisconsinites receive the support they need to reconstruct their lives.
Read the letter to Speaker Paul Ryan, Minority Leader Nancy Pelosi, Majority Leader McConnell, and Minority Leader Chuck Schumer here.