September 12,2005

Statement of U.S. Senator Max Baucus on Hurricane Katrina Relief Package

(WASHINGTON, D.C.) U.S. Senator Max Baucus, ranking member of the Senate FinanceCommittee, issued the following statement regarding the announcement of tax provisionsdesigned to provide assistance to the victims of Hurricane Katrina. The package was announcedwith Chairman Charles Grassley today. The statement follows:

“This is an overwhelming tragedy. Hurricane Katrina has displaced more than 375,000people. They have sought refuge in shelters, hotels, homes, and with family all over the country.The nation is depending on Congress to act, and to act quickly.

“Today, Senator Grassley and I have announced a tax package that will provideimmediate tax relief to help those in need get back on their feet. We want to give the propertools to businesses that will be hiring displaced workers to create new jobs. And we want toprovide those affected with access to retirement accounts for immediate cash assistance.

“Americans have been generous with efforts to assist the recovery effort. This packagewill continue these efforts. We propose a tax incentive to reward those who have opened up theirhomes to those who are looking for shelter. The package encourages charitable donations to helpease the burden on communities and states hit the hardest. We need to act quickly to reach thosewho need help the most.”