Lawmaker Praises Quake Bill Support
I applaud your editorial support for Rep. Howard L. Berman’s proposal to allow individuals to deduct all uninsured earthquake losses suffered in the Northridge earthquake from their federal income tax returns (“Middle Class Needs Help Too,” Feb. 22).
I want to bring to your attention the fact that I’ve authored the state Senate bill 561, which will provide relief identical to the Berman bill for individuals filing state income tax returns. SB 561 also allows a carry-over to future years of 100% of excess losses. Current law allows for only a 50% carry-over.
We must view the recent crisis as a beginning, not an end. We can help jump-start the economy by making sure that taxpayers in the San Fernando Valley and other areas damaged by the quake have some financial incentive to rebuild and stay here.
HERSCHEL ROSENTHAL
Sacramento
Rosenthal represents the 22nd District in the California Senate.
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