U.S. House Passes Steube Legislation, The Federal Disaster Tax Relief Act
View Rep. Steube’s Floor Remarks Here.
WASHINGTON — The U.S. House of Representatives today passed legislation sponsored by Rep. Greg Steube (R-Fla.), The Federal Disaster Tax Relief Act. Rep. Steube’s legislation ensures that Americans harmed by recent hurricanes, wildfires, floods, tornadoes, and the train derailment in Ohio will receive long-awaited tax relief.
“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 that Hurricane Ian and other hurricanes including Hurricane Idalia, Hurricane Nicole, and Hurricane Fiona, should be treated as qualified disaster events for purposes of determining the tax treatment of certain disaster-related personal casualty losses. The legislation would allow Americans who were subjected to damages from hurricanes and other federally declared disasters to claim such losses without itemizing such deductions. Moreover, such losses would not have to exceed 10% of a claimant’s adjusted gross income to qualify.
Additionally, the bill excludes from taxpayer gross income, for income tax purposes, any amount received by an individual taxpayer as compensation for expenses or losses incurred due to a qualified wildfire disaster (a disaster declared after 2014 as a result of a forest or range fire). It also excludes relief payments for losses resulting from the East Palestine, Ohio, train derailment on February 3, 2023.
Since 2021, the Federal Emergency Management Agency (FEMA) has declared over 300 disasters impacting nearly 90 percent of the country. 47 states have experienced a covered disaster since 2021.
Background
The Federal Disaster Tax Relief Act passed the House on January 31, 2024 as part of The Tax Relief for American Families and Workers Act. This bipartisan tax package has since stalled in the Senate. The standalone bill passed in the House today gives disaster tax relief a second chance in the Senate.
Rep. Steube filed a discharge petition on April 30, 2024 to force a House vote on his legislation. The petition reached the required 218 signatures on May 15, 2024, representing only the 3rd successful discharge petition in the Congressional history of public discharge petitions.
U.S. House Passes Steube Legislation to Provide Disaster Tax Relief for Florida Hurricane Victims
Steube Legislation to Provide Disaster Tax Relief Advances Out of Ways and Means Committee
STEUBE: One year after Hurricane Ian, the Suncoast still needs help. Congress must step up.
