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West Florida News

Tuesday, December 17, 2024

Federal Disaster Tax Relief Act signed into law by President Biden

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Greg Steube U.S. House of Representatives from Florida's 17th district | Official U.S. House Headshot

Greg Steube U.S. House of Representatives from Florida's 17th district | Official U.S. House Headshot

U.S. Representative Greg Steube announced that the Federal Disaster Tax Relief Act, H.R. 5863, has been signed into law by President Biden. This legislation aims to provide tax relief for Americans affected by natural disasters.

“This is a victory for every American who has faced the devastating toll of a natural disaster,” stated Rep. Steube. “From Florida to California, disasters don’t discriminate by state or party. This bipartisan legislation is a testament to what we can achieve when we work together to prioritize the needs of the American people.”

The new law allows Americans to claim disaster-related losses without itemizing deductions and removes the 10% Adjusted Gross Income threshold for claiming these losses. It also ensures that settlements for disaster victims are tax-free and provides relief for recent hurricanes like Ian, Nicole, Idalia, Helene, Debby, and Milton. The law includes provisions for wildfire victims in the West and families impacted by the East Palestine, Ohio train derailment.

“The devastation caused by disasters doesn’t stop at state borders or political lines—it affects every Floridian and every American," Steube continued.

The act marks significant progress for Floridians who have endured six major hurricanes in two years and other communities across the country dealing with severe weather events.

Steube’s efforts involved overcoming multiple obstacles, including using a discharge petition that led to a House vote earlier this year. With presidential approval, families nationwide will receive much-needed tax relief.

The Federal Disaster Tax Relief Act passed in the U.S. House on May 21, 2024, with broad bipartisan support (382-7) after Rep. Steube successfully employed a rarely-used legislative tactic to force a vote on his bill.

Residents of Florida's 17th Congressional District have faced numerous challenges from hurricanes over recent years. The 2024 Atlantic Hurricane season was notably severe with storms such as Hurricane Debby causing extensive damage outside designated flood zones and Hurricanes Helene and Milton bringing unprecedented storm surges and tornado outbreaks.

Hurricane Idalia made landfall in Florida’s Big Bend in August 2023 with significant storm surges exceeding previous records set during the Storm of the Century in 1993.

In 2022, Hurricane Ian struck Florida causing historic destruction and ranking as one of the costliest hurricanes in U.S history according to NOAA. Later that year, Hurricane Nicole resulted in substantial damages upon making landfall near Vero Beach.

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