Florida Representative Greg Steube is leading a new bipartisan effort to speed up the recovery process. Steube recently launched a push to change the tax code, aiming to make it easier for utility companies and businesses to bounce back after a catastrophe without passing the massive bill on to their customers.
The proposed legislation, titled the “Disaster Zone Energy Affordability and Investment Act,” focuses on a technical but vital part of the tax law.
Essentially, it allows companies operating in federally declared disaster zones to take older, unused tax credits and “transfer” them—effectively turning those credits into immediate cash flow. Instead of waiting years to use these benefits, companies can move that money around now to fix downed power lines, repair substations, and get the lights back on faster.
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The bill has gained traction because it crosses party lines during a time of intense political division. Steube is joined by a diverse group of co-sponsors, including Florida Democrats like Rep. Jared Moskowitz and Alabama’s Rep. Terri Sewell. The common thread among these representatives is a shared history of dealing with mother nature’s worst, from the hurricane-battered coasts of the South to the flood-prone regions of the Pacific Northwest.
Supporters of the bill argue that when a utility company spends billions on emergency repairs, those costs almost always find their way onto the monthly bills of local residents. By giving these companies more financial breathing room through tax flexibility, the bill aims to prevent those sudden “disaster surcharges” that hit families when they are most vulnerable.
“Natural disasters and emergencies often complicate the delivery of public utilities including electricity,” Steube said, noting that his goal is to make the tax code more responsive to the actual needs of people living in disaster zones. He emphasized that the move is designed to reduce the cost of storm restoration and ensure markets stay liquid even when the local economy is reeling.
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The legislation acts as a companion to a similar push in the Senate led by Senators Lindsey Graham and Maria Cantwell. If passed, it would apply to disasters declared after December 31, 2023, offering a lifeline to communities still picking up the pieces from recent extreme weather.
While it won’t stop the next storm from coming, the hope is that it will at least make sure the financial aftermath isn’t a second disaster in itself.
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