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Tax code changes proposed to help fire victims in Los Angeles rebuild without facing heavy taxes.
Los Angeles fire victims are discouraged from rebuilding due to current tax laws that impose taxes on insurance proceeds and home sales.
Authors Christopher Cox and Hank Adler propose two changes to the tax code: exempting fire victims from taxes on insurance payouts and lot sales, and allowing deferred taxes on home sales if the funds are used to rebuild within disaster areas.
These reforms aim to encourage rebuilding and restore the local tax base.
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Se proponen cambios en el código tributario para ayudar a las víctimas de los incendios en Los Ángeles a reconstruirse sin enfrentarse a fuertes impuestos.