N002059
Saturday, January 19, 2002 4:33 PM
comments on the Federal Fund for 9-11 victims
Dear Mr. Ken Zwick:
I lost my brother in the WTC on September 11. He was a young man who was full of promises and dedicated to providing for our parents.
In determining economic loss, the interim rule for the federal Fund states that determination of economic loss requires a prediction about each claimant's future. The rule states that income between 1998 and 2000 will be used to determine this loss. However, if there is evidence that serve as better indicator of lost income, the rules should allow it to be used. In my brother's case, he had a two year employment contract from April 2001 to April 2003 for a minimum compensation that is significantly higher than his average income from 1998 to 2000. It was an indication of his promoted status as a bond broker. Moreover, a large portion of his income was paid in January of the year after he earned his bonus. Therefore, the average income from 1998 to 2000 would not include bonus earned in 2000. As you can see, a strict application of 98-2000 tax returns would mask the evidence of true economic loss for my brother and those like him.
Also, my parents were financially dependent on my brother, but this would not show up in tax returns in 98-2000. My parents relocated to New Jersey from their previous home in the summer of 2001 to be closer to the rest of the immediate family. As evidence would show, he was fully intent on providing for them financially and would have claimed them his dependents in 2001 tax return. Again, we request that this type of circumstances be considered in determining economic loss for my family and other victims' families.
Individual Comment