West Florida News

The U.S. House of Representatives has passed The Federal Disaster Tax Relief Act, sponsored by Rep. Greg Steube (R-Fla.). This legislation aims to provide tax relief for Americans affected by recent hurricanes, wildfires, floods, tornadoes, and the train derailment in Ohio.

“Floridians in my district are rightly outraged that it has taken Congress more than a year and a half to provide disaster tax relief for Hurricane Ian. Many other Americans have waited just as long for relief from other disasters. My successful discharge petition ensured disaster tax relief would get a second chance in the legislative process, and I’ve demonstrated that I won’t back down until disaster tax relief is delivered,” said Rep. Steube. “Thank you to my House colleagues on both ends of the political spectrum for your support. This issue truly transcends political ideology. It is solely about helping our fellow Americans who have been through some of the toughest events anyone can imagine. Their resilience proves the critical nature of this legislation. I hope our colleagues in the Senate act quickly and that President Biden will recognize the importance of signing my legislation into law.”

The National Oceanic and Atmospheric Administration ranks Hurricane Ian as the third-most costly hurricane in U.S. history. The legislation designates Hurricane Ian and other hurricanes such as Hurricane Idalia, Hurricane Nicole, and Hurricane Fiona as qualified disaster events for determining the tax treatment of certain disaster-related personal casualty losses.

The bill allows those affected by hurricanes and other federally declared disasters to claim losses without itemizing deductions and ensures such losses do not need to exceed 10% of a claimant’s adjusted gross income to qualify.

Additionally, it excludes from taxpayer gross income any amount received as compensation for expenses or losses due to qualified wildfire disasters declared after 2014 or resulting from the East Palestine, Ohio train derailment on February 3, 2023.

Since 2021, FEMA has declared over 300 disasters impacting nearly 90 percent of the country, with 47 states experiencing covered disasters since then.

The Federal Disaster Tax Relief Act initially passed the House on January 31, 2024, as part of The Tax Relief for American Families and Workers Act but stalled in the Senate. The standalone bill passed today gives disaster tax relief another opportunity in the Senate.

Rep. Steube filed a discharge petition on April 30, 2024, which reached the required 218 signatures on May 15, representing only the third successful discharge petition in Congressional history.

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