Published: August 15, 2008 04:55 pm            

Grassley Q&A

Q: Why are the Olympics important?



A: From the beginning of the ceremonial carrying of the torch to the closing ceremonies, the Olympic Games bring people together from all over the globe. The Olympic Games provide a chance for the world’s best athletes from countries all over the world to take part in the Olympic ceremonies and to compete this year in Beijing, China. It is a great honor for the athletes to not only compete, but to become ambassadors of their country to the rest of the world. Whether the athletes win or lose, the experience of participating in the Olympic Games is something few ever experience and that the athletes will never forget. It’s a great opportunity for America to come together and rally behind our athletes who have trained their entire lives for a chance to showcase their talents in front of the world. It’s a very proud moment for America when one of our own is standing on the podium; holding their hand over their heart; saluting the American flag; and receiving a medal. All of the athletes and those who are working to promote the Olympic spirit deserve to be commended for their hard work and dedication.





Q: Will any Iowans be participating in the Olympics?



A: There are 11 Olympic athletes who have Iowa ties competing in a wide spectrum of events. Ben Askren and Doug Schwab will be competing in wrestling. Jenny Barringer will be competing in the 3,000 meter steeplechase. Lolo Jones will be competing in the 100 meter hurdles. Shawn Johnson will be competing in gymnastics. A.G. Kruger will be competing in the hammer throw. Jason McCartney and Christine Thorburn will be competing in cycling. Nancilea Underwood-Foster will be competing in diving. Leigh Smith will be competing in the javelin. It will be exciting to watch as Iowans have the opportunity to put all of their hard work and ability to the ultimate test as they strive to win the gold. I wish them the best of luck and I know that all of Iowa will be proudly behind them.





Q: What is the Midwestern Disaster Tax Relief Bill?



A: I’ve been working to get Congress to act on a tax relief package for flood and tornado victims throughout the Midwest and especially in Iowa. The bipartisan bill I put together would provide $3.96 billion in federal tax relief for individuals, families and businesses affected by the disaster. Among other things, the bill would let disaster victims withdraw money from retirement plans without tax penalties, suspend limits on tax incentives for charitable contributions, create tax-exempt bond authority to help rebuild infrastructure and fully deduct casualty losses due to natural disaster. It would also allow additional depreciation to lower tax payments or possibly generate a tax refund for local Iowa businesses, and it would increase the amounts allowed for expensing property, thereby lowering taxes for small businesses trying to rebuild. The Midwestern Disaster Tax Relief Bill is modeled after tax legislation that Congress passed to help victims of hurricane Katrina, Rita and Wilma in 2005, and the tornado in Kiowa County, Kansas in 2007. This kind of tax relief for disasters has proven to be very helpful to disaster recovery efforts. Putting the policies in place quickly has contributed to their success. In 2005, the President was able to sign a major individual tax relief package into law within three weeks of the Katrina disaster. Three months later, Congress followed up with an infrastructure and business tax relief package. This year, there seems to be a huge misconception in Washington that the destruction in Iowa doesn’t compare to the other disasters that have received federal tax relief packages. I’m sounding the alarm in Congress about this disaster. I’m in Iowa every weekend and happy to show anyone around in Congress that is buying into that fallacy.





Q: What is taking longer to pass than legislation for Katrina and other disasters?



A: The Majority Leader of the Senate has employed a strategy to slow-walk this bill and make it a political football. I tried to get unanimous consent from senators to have this bill passed before the Congressional recess that started August 1, and was denied. The situation is frustrating and unfair because this bill does not ask for anything more than the same consideration that was given to the victims of other major disasters. Just because the Iowa storm hasn’t been covered on national television for weeks on end, doesn’t mean that the amount of hurt caused by the disaster isn’t the same. I won’t give up. People are working day and night to put their lives and their communities back together. Iowans are determined to rebuild and Congress needs to do the right thing and show its commitment to help by treating the Midwest the same as other disasters have been treated.

        

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