WAYS AND MEANS COMMITTEE VOTES TO ADVANCE LARSON AND COURTNEY TAX RELIEF PLAN FOR CONNECTICUT HOMEOWNERS WITH CRUMBLING FOUNDATIONS

Washington, July 1 -- Rep. John B. Larson issued the following press release:

Washington, D.C. - Today, Rep. John B. Larson (CT-01) and every member of the House Ways and Means Committee voted to send H.R. 9500 to the House floor, bipartisan legislation that includes Larson and Rep. Joe Courtney'sCasualty Loss Deduction Restoration Act, to allow homeowners impacted by crumbling foundations due to pyrrhotite to claim the casualty loss deduction for repair costs. The bill would also allow homeowners to retroactively claim the deduction, starting in 2021. Watch Rep. Larson's remarks in the Ways and Means Committee here. "More than a decade since the crumbling foundations crisis was first discovered in Eastern and North Central Connecticut, ...