Summary of the Senate Amendment to HR4440, the House-passed Katrina Tax Relief Bill

Summary of the Senate Amendment to HR4440, the House-passed Katrina Tax Relief Bill

Below is the text of the proposed Senate amendment to the House-passed Katrina tax relief legislation (H.R. 4440) along with comments from Chairman Grassley and Ranking Member Baucus of the Senate Committee on Finance.

"This important legislation focuses on the longer-term needs of the people on the Gulf Coast. The tax incentives are aimed at helping to rebuild the local and regional economy so that individuals and families can go home and rebuild their lives. I hope to see final action by Congress on this bill before the week ends," said Sen. Chuck Grassley of Iowa, Finance Committee Chairman

"The amendment the Senate has proposed shows the progress that can be made when leaders put aside their differences and work together for the good of the American people. We've put an agreement in place to help hurricane zone employers pay their workers, to help students go back to school in the Gulf Coast region, to help families afford housing and to help communities rebuild. As I've said many times, passing this vital Katrina relief is an urgent priority. I'm
hopeful that t e House will agree to this package and send it to the President by week's end," said Sen. Max Baucus of Montana, Finance Committee Ranking Member.

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http://finance.senate.gov/press/Gpress/2005/prg121505a.pdf