Pelosi Statement on Gulf Coast Tax Bill

December 16, 2005

Pelosi Statement on Gulf Coast Tax Bill

Washington, D.C. - House Democratic Leader Nancy Pelosi released the following statement on the Gulf Opportunity Zone Act of 2005, which passed both houses of Congress today and is expected to be signed into law by the President. The bill provides tax incentives for housing and economic development to the Gulf Coast states that were ravaged by Katrina.

"Today's tax bill is a step in the right direction toward rebuilding the Gulf Coast, but Congress must do more. It is our responsibility to ensure hurricane survivors have livable housing, and to spur job creation, and rebuild public infrastructure.

"As Congress concludes its business for the year, thousands of Gulf Coast families are preparing to spend Christmas in tent cities. These tent cities represent the Republican majority's moral failure to uphold its responsibility to our ravaged Gulf Coast communities.

"The Republican approach to the hurricane aftermath has been slow, spotty, and sporadic at best. Democrats are working to ensure that the immediate and long-term needs of Hurricane survivors are addressed and not swept aside. Today's bill can only be viewed as a down payment on a meaningful and comprehensive approach to rebuilding and revitalizing the Gulf Coast."

http://democraticleader.house.gov/press/releases.cfm?pressReleaseID=1330