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house Bill H.R. 2836

Should There be Tax Credits For Hurricane and Tornado Readiness Projects?

Argument in favor

Hurricanes and tornadoes can be catastrophic and do significant damage to homes and businesses, so a tax credit would be a good way to incentivize property owners to take proactive steps to mitigate damage to their property before disaster strikes.

Leslie 's Opinion
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08/02/2017
Let's do this for earthquake and fire also!
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Stephen's Opinion
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08/03/2017
I, too, was worried about this simply being another tax loophole until I saw that there's a $5000 cap on the amount of savings, which helps diminish the interest of the extremely wealthy exploiting this bill. I believe that this stipulation makes this bill genuinely target the needs of average citizens.
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Adam's Opinion
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08/02/2017
Recovering after a tragic natural disaster is also tough financially, the last thing you should have to worry about is the tax that comes with the cost of having to rebuild your life afterwards.
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Argument opposed

The tax code has far too many loopholes as is, and creating a new tax credit for hurricane and tornado readiness only complicates things. Besides, people worried about their property shouldn’t need a tax credit to incentivize them to prepare for disaster.

Milan's Opinion
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08/02/2017
Sounds like another tax loophole for the wealthy -
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Kodiwodi's Opinion
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08/02/2017
This bill seems to have way too many loopholes and is too narrow in focus. Yes tornadoes and hurricanes are catastrophic but what about drought, flash floods, Wildland fires, earthquakes( natural and manmade) mudslides and avalanches? No incentives for these? Look disasters are going to happen. Communities must find ways to mitigate as best they can. Insurance companies must provide products people can afford that address realistic needs states must incentivize homeowners and businesses and industries and corporations must stop making environmentally stupid decisions which impact coastlines, aquifers, earthquakes, & climate change. The only thing the federal government needs to do is properly fund those agencies such as FEMA, the Army Corp of Engineers, the Coast Guard , the CDC etc and the Charities Red Cross, Doctors Without Borders, SPLC, The Media, NPR,PBS the Sciences:NOAA, NASA etc and have appropriate Safety Net Programs in place, SNAP, Housing, Medicaid, Medicare,Disability, Social Security and World Class ACA healthcare in place when these things happen. It would also be nice to have some world class leadership not denying care to lgbtq people or preventing those from providing it. That's what we need.
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Naomi's Opinion
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08/02/2017
Absolutely NO! Only helps the rich who can afford to do this already and once again it is the poor who can't afford to anyway that gets screwed! VOTE NO!
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    Let's do this for earthquake and fire also!
    Like (15)
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    Sounds like another tax loophole for the wealthy -
    Like (42)
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    This bill seems to have way too many loopholes and is too narrow in focus. Yes tornadoes and hurricanes are catastrophic but what about drought, flash floods, Wildland fires, earthquakes( natural and manmade) mudslides and avalanches? No incentives for these? Look disasters are going to happen. Communities must find ways to mitigate as best they can. Insurance companies must provide products people can afford that address realistic needs states must incentivize homeowners and businesses and industries and corporations must stop making environmentally stupid decisions which impact coastlines, aquifers, earthquakes, & climate change. The only thing the federal government needs to do is properly fund those agencies such as FEMA, the Army Corp of Engineers, the Coast Guard , the CDC etc and the Charities Red Cross, Doctors Without Borders, SPLC, The Media, NPR,PBS the Sciences:NOAA, NASA etc and have appropriate Safety Net Programs in place, SNAP, Housing, Medicaid, Medicare,Disability, Social Security and World Class ACA healthcare in place when these things happen. It would also be nice to have some world class leadership not denying care to lgbtq people or preventing those from providing it. That's what we need.
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    Fund FEMA properly instead.
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    Absolutely NO! Only helps the rich who can afford to do this already and once again it is the poor who can't afford to anyway that gets screwed! VOTE NO!
    Like (22)
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    Let's move you simplify taxes, not complicate them. If w eliminated taxing the poor and lower middle class (lets say individuals making less than 75k and households making 140k annually) and increased taxes for the upper class (individuals making over 250k and households making 500k annually) who can afford to actually pay taxes without it disrupting their life, then we'd be getting somewhere that bills like this won't be necessary. These bills exist because the government supports any economy that stands on the backs of the poor while piling money and tax exemptions into the pockets of the wealthy. I love my country, but I do not respect most of what my government stands for these days.
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    Those who can afford to do so already do
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    Speaking as somebody from, and living in a different, hurricane prone community, I can tell you local government puts forward considerable resources for when the worst happens. These communities know what they are doing when it comes to bad weather. A tax break would bear no considerable advantage, and would only open the opportunity for misuse
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    Although the idea of incentivizing individuals to be disaster-ready is enticing, it would only benefit those who have enough disposable income to make such preparations. It does nothing to help those who would have the most to lose (the poor) in the case of a natural disaster.
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    It's not that I don't necessarily agree with this, it's that I don't think enough thought went into how much this will cost. I believe that there is more than likely a better way to pay for this kind of program. Also, with these weather events, the storms can be very, very severe. They can still blow up even properties that have been hardened. So then we pay to harden the property and then pay again to rebuild after its blown apart. This needs more thought
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    I, too, was worried about this simply being another tax loophole until I saw that there's a $5000 cap on the amount of savings, which helps diminish the interest of the extremely wealthy exploiting this bill. I believe that this stipulation makes this bill genuinely target the needs of average citizens.
    Like (8)
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    would it not make more sense and be more cost effective if these "tax credits" were allocated to those persons or industries that helped make ready their town or city for tornadoes or hurricanes? If you're giving people tax credits for essentially adding on to their homes, you'd leave out those who'd be most effected by a hurricane or tornado. If 50 people live in a tornado or hurricane zone and only 3 prepare their homes you are planning to give them more money for doing this but the billions it would cost to aid the weather ravaged 47 would effect the entire country. Instead, grant tax credits were applicable to states or cities that weather proof their city or state. This extra money granted and monitored at the state or city level could help build infrastructure and revive already flailing local economies. just a thought.
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    Giving tax credit is never a great answer to these types of situations instead we need to have a preparedness in the fund for FEMA to be able to address the need as they come while being prepared for such situations is great the systems that we already have in place are not properly funded
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    Insurance premium s should incentivise owners.
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    Recovering after a tragic natural disaster is also tough financially, the last thing you should have to worry about is the tax that comes with the cost of having to rebuild your life afterwards.
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    Natural disaster legislation at a federal should not be limited to a specific type of disaster. Furthermore, natural disaster readiness should be a state responsibility.
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    Hurricanes and tornadoes can be catastrophic and do significant damage to homes and businesses, so a tax credit would be a good way to incentivize property owners to take proactive steps to mitigate damage to their property before disaster strikes.
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    This is proactive, I like it. We should include all natural disasters. Clean up the language, make it work.
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    I am deeply suspicious that this is another giveaway to the oligarchs taken from those of us who can't afford it. The business breaks aren't detailed, but I can tell you that tax breaks don't help the poor and rarely help the middle class. I saved money for years to purchase solar panels, something out of reach for those with even less less money than I. Those who recommend funding FEMA [and hiring people who care] are right. Prevention is preferable, but I frankly fail to see how a new roof prevents hurricane damage. Put funding into decreasing the catastrophes caused by global warming first.
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    Tax credits like these may be the only relief left available to middle class Americans already shouldering the tax weight of deadbeat billionaires! Hell yes, you should give them a way to shave a few dollars off the %60 you're taking of their hard work and paying out to the Russian banks and oil lobby! And while we're at it, let's put Congress on Medicaid too.
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