OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Stop Terror-Financing and Tax Penalties on American Hostages Act

Floor Speech

Date: Nov. 21, 2024
Location: Washington, DC

BREAK IN TRANSCRIPT

Mr. BEAN of Florida. Mr. Speaker, common sense will tell Members that an American held hostage overseas probably is not going to get a chance to file their taxes. Common sense, Mr. Speaker, will tell my colleagues that they probably won't even get a chance to file an extension.

Mr. Speaker, one would think that that American being held hostage overseas should not be subject to penalties and interest on taxes that went unpaid during their captivity. Mr. Speaker, that is not the case in crazy town.

Mr. Speaker, one would also think that American tax dollars should not be used to subsidize groups supporting terrorist activities but remember that this is crazy town.

Mr. Speaker, it is time to bring common sense back to crazy town, and that is why we need H.R. 9495, the Stop Terror-Financing and Tax Penalties on American Hostages Act. The bill would bring common sense and allow the IRS to waive penalties for late taxes for Americans being held hostage overseas and would direct the IRS to revoke the tax-exempt status of a nonprofit found providing financial support to a terrorist organization.

Mr. Speaker, it is just common sense.

BREAK IN TRANSCRIPT


Source
arrow_upward