Legislation would provide tax relief for those affected by hurricanes and wildfires through 2026, and extend relief for wildfire settlement payments through 2030.
Senator Rick Scott (R-FL) has introduced new legislation aimed at providing extended tax relief to victims of federally declared natural disasters, including hurricanes and wildfires. The bill, which has a companion version being introduced in the House of Representatives by Congressman Greg Steube (R-FL), seeks to make this relief available through the end of 2026.
The proposed legislation also includes a provision specifically for victims of wildfires, extending their ability to make tax-deductible payments from settlement funds through the end of 2030. According to the senator’s office, this is a crucial element as wildfire settlements often take many years to be finalized.
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This new effort follows the successful passage of the “Federal Disaster Tax Relief Act of 2023,” which Senator Scott and Congressman Steube championed in the last Congress. That law provided significant tax relief to victims of hurricanes and other natural disasters. The current bill is designed to ensure that this critical support remains available for future victims.
In a statement, Senator Scott emphasized the importance of federal support for those who have lost everything. “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,” Scott said. He highlighted the bipartisan nature of past disaster relief efforts and expressed his hope that this new legislation would continue that trend.
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Scott specifically mentioned the victims of recent wildfires, such as those that occurred in California in January, stating that the new bill “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.”
He concluded by asserting that the legislation is “an important step to ensure that when disaster strikes, Washington stands with survivors, not against them.”
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