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October 22, 2018
“We want to get the word out that IRS will be holding a free webinar that tax preparers and homeowners can learn more about recent development on tax deductions for foundation repairs,” said Courtney and Larson. “Last week, we announced that the IRS has made it clear that homeowners can “carry forward” or “carry back” a net operating loss under the casualty loss deduction for crumbling foundations repairs. This clarification means that even if the net loss suffered by a homeowner exceeds their annual tax liability, they can carry forward the loss for up to 20 years and can carry back for two years. This development will provide significant help for middle-class homeowners, and we want to get the word out about how they can start using this deduction when they go to file next spring.”
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October 16, 2018
“Today, the federal government has once again said ‘yes’ to helping homeowners struggling with the cost and damage of crumbling foundations. This clarification of the tax revenue procedure that we announced last year is going to have significant implications for middle-class homeowners whose repair costs exceed their annual income,” said Courtney and Larson. “It also builds on the critical development we announced last year that the IRS would allow homeowners to claim a casualty loss on their 2017 return to recoup the costs of repairing a home foundation.
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October 15, 2018
Third-quarter data released by the Eastern Connecticut Association of Realtors last week shows that single-family home sales in New London and Windham counties are up over last year, which CEO Susy Hurlbert takes as a sign of increased buyer confidence.
"There is no real fear of a recession over the next 12 months at least, so I think there's confidence in the housing market because of that," she said.
Issues:
Economy & Jobs
Eastern Connecticut
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October 7, 2018
Groton, Norwich and North Stonington are among the top cities and towns in the state for economic growth, according to the 2017 Connecticut Town Economic Indexes, which the state Department of Labor released this week.
Issues:
Economy & Jobs
Eastern Connecticut
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October 5, 2018
(Norwich, CT) - Today, Congressman Joe Courtney (CT-02) announced that Groton Public Schools had been awarded a $750,000 grant as a Military-Connected Local Educational Agency by the Department of Defense (DOD). The grant funding will be used to increase Science Technology Engineering and Math (STEM) comprehension among GPS students.
Issues:
Education
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Congressman Courtney Speaks With A Local Veteran and Graduate of the Advanced Manufacturing Pipeline
September 28, 2018
Justin Stanley, a marine veteran from Brooklyn, CT represents a shining success for Eastern Connecticut’s manufacturing pipeline. After 4 years of serving his country overseas in Asia, Justin found employment in a variety of jobs here in the states but wanted to find a stable career to support him and his family. Through his local veteran’s representatives, Justin heard about the advanced manufacturing program at Quinebaug Valley Community College (QVCC) and it was there that he discovered what would become his life’s work.
Issues:
Eastern Connecticut
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September 26, 2018
"The Impact Aid Program represents our commitment to making sure the children of military service members and Native families are provided with a quality public education, while not forcing local communities to pay the bill. I would like to thank NAFIS for honoring me with this award, and I promise to remain a strong advocate of Impact Aid in Congress.”
Issues:
Education
September 26, 2018
“I am pleased that members from both sides of the aisle came together to pass a fair and bipartisan spending bill to pass a fair and bipartisan spending bill that invests in key priorities and avoids a shutdown,” said Courtney. “The bill that passed today is good news for Connecticut’s defense industry and our economy as a whole. The agreement also includes large investments in public education and increased funding for SAMSHA to combat the opioid crisis. Finally, I am especially pleased that this bill rejected many of the ideological riders and harmful cuts proposed by the administration. I hope this bipartisan model will serve as a framework when the discussion begins on the FY 2020 budget during the new Congress next year."
September 21, 2018
“The number one thing I hear around the district from both medical professionals and first responders is that they need more funding if we are ever going to stem the rise in drug addiction,” said Courtney. “For years, we have been saying that we need to start treating this crisis like a medical emergency as well as a law enforcement issue. This funding does just that by providing funding for hospitals and clinics on the frontlines.”
Issues:
Health Care
Eastern Connecticut
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September 15, 2018
The Connecticut Society of Certified Public Accountants is supporting the efforts of U.S. Rep. John B. Larson, D-1st District, and U.S. Rep. Joseph D. Courtney, D-2nd District, to clarify how homeowners with crumbling foundations can receive federal tax relief through the casualty loss deduction.
In August, Courtney and Larson asked acting IRS Commissioner David Kautter for clarification on whether a taxpayer can take and “carry forward” a net operating loss if their casualty loss exceeds their income.