When Dorothy from the Wizard of Oz clicks together her heels, longingly repeating, “there’s no place like home,” the young girl from Kansas symbolically taps into expectations shared by generations of Americans.
Having a roof over one’s head goes beyond the most basic need that shelter provides for human survival.
The American Dream is rooted in the promise of homeownership and achieving a standard of living that’s as good as or better than one’s parents and grandparents. But clichés such as ‘a man’s home is his castle’ and ‘home is where the heart is’ characterize for many Americans how one’s home symbolizes pride, achievement, independence and security.
This summer thousands of Iowans felt as bewildered as Dorothy after a string of natural disasters displaced families and individuals from hearth and home. If only it were as simple to return safe and sound with the wave of a magic wand over a pair of ruby red slippers.
As a witness to the F-5 tornado that ripped through my home county in May, I couldn’t imagine even more heartache and devastation was on its way in just a few weeks’ time.
Thousands of Iowans were displaced from their homes when over a 500-year flooding event swamped farm fields, washed out roads and bridges and destroyed homes and businesses along the way.
Still climbing financial estimates illustrate staggering damages, including losses exceeding $4 billion agriculture; $4 billion business and $1 billion housing.
As the floodwaters recede, the media spotlight also dims on the Midwestern recovery effort as victims return to their homes and businesses to sort through the muck and mold.
Although Iowans are brandishing their can-do work ethic and stick-to-it mentality, I’m not going to allow Washington to forget the enormous needs that exist.
Working with other Midwestern lawmakers, I’m working to secure additional federal emergency disaster assistance to help with urgent recovery and rebuilding efforts now underway.
As ranking member of the tax-writing Senate Finance Committee, I’m leading an effort to extend preferable tax treatment to the victims of the Midwestern floods. Modeled after legislation Congress approved to help victims of Hurricane Katrina, Rita and Wilma in 2005, the tax relief package would let disaster victims with damage to their primary residence tap their assets and withdraw money from retirement plans without penalties; suspend limits on tax incentives for charitable contributions; create tax-credit bond authority to help local governments rebuild infrastructure with interest free loans; increase the amount of tax-exempt bond authority to help businesses receive below-market interest rate financing; remove limitations on deducting casualty losses due to natural disaster; and reduce the 2008 tax burden for businesses by substantially increasing the 2008 deductions for the depreciation and expensing of business property.
In a speech I delivered on the floor of the U.S. Senate, I reminded lawmakers that this U.S. Senator didn’t use stall and delay tactics after hurricanes ripped through America’s Gulf Coast in 2005 or when an F-5 tornado flattened the town of Greensburg, Kansas in 2007.
Congress acted swiftly and fairly to help victims rebuild and recover. Iowans deserve the same.
Before adjourning for the annual August recess, Congress overwhelmingly approved a massive bailout package ostensibly designed to address the foreclosure crisis dragging down the housing market and mortgage lending system. Regrettably, I’m concerned the bill could do more harm than good. You might say the special interests on Wall Street and K Street can consider the taxpayer bailout package as Christmas in July.
I’m asking Congress to seize another opportunity to do more good than harm.
Iowans know there’s no place like home. And there’s no good reason Congress can’t extend a helping hand so Midwestern storm victims can return to the safety and comforts of home sooner rather than later.