Senator Rick Scott has introduced a bill aimed at providing tax relief to victims of federally declared disasters, such as hurricanes and wildfires, through the end of 2026. The proposed legislation would also extend the timeframe for victims to make tax-deductible payments from wildfire settlements until the end of 2030. Congressman Greg Steube plans to introduce a companion bill in the House of Representatives.
Previously, Senator Scott and Congressman Steube worked together on the Federal Disaster Tax Relief Act of 2023, which was passed to give tax relief to those affected by natural disasters. The new proposal seeks to continue this support for future disaster victims.
Senator Scott stated, “It is absolutely heartbreaking to see families of natural disasters – whether that’s hurricanes, wildfires, or massive flooding – who have lost everything and are working hard to get back on their feet. They need all the support they can get from their federal government, and for years, we have been able to come together to provide common-sense tax relief to victims in a bipartisan effort. My bill extends this relief through the end of 2026 to ensure relief is available for any victims, and expands support for the victims of wildfires like the California fires in January that took innocent lives and caused massive damage that families are still working to recover from. This legislation is an important step to ensure that when disaster strikes, Washington stands with survivors, not against them.”
The new legislation aims to provide continued access to tax relief measures for individuals recovering from natural disasters.
