Disaster Tax Relief Legislation Officially Becomes Florida Law
SARASOTA, Fla. — U.S. Rep. Greg Steube's long-standing push for presidential approval has paid off.
Steube announced Friday that President Joe Biden signed his Federal Disaster Tax Relief Act into law.
“This is a victory for every American who has faced the devastating toll of a natural disaster,” Steube stated in a news release. “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. After two years of fighting for this relief, this law will help families rebuild their lives and recover with fewer financial barriers.”
The law provides tax relief for individuals and families working through natural disaster recovery.
According to the news release, the new law “allows Americans to claim disaster-related losses without having to itemize deductions and eliminates the burdensome 10% Adjusted Gross Income (AGI) threshold for claiming those losses.”
It also ensures that settlements received by disaster victims are tax-free while providing specific relief for hurricanes Ian, Nicole, Idalia, Helene, Debby, and Milton, the release stated.
Additionally, the law includes tax relief for wildfire victims in the Western U.S. and residents affected by the 2023 train derailment in East Palestine, Ohio.
“The devastation caused by disasters doesn’t stop at state borders or political lines — it affects every Floridian and every American. This bipartisan effort delivers relief to communities across the nation, whether they’re recovering from a hurricane, wildfire, or another tragedy,” Steube said. “For Florida, where we’ve faced the brunt of multiple hurricanes in recent years, this law means real help for families and businesses working to rebuild. I will never stop fighting for Floridians and ensuring our communities come back stronger and more resilient than ever.”
Steube’s Disaster Tax Relief legislation, which he has been championing since Hurricane Ian, was finally approved by the U.S. Senate and advanced to the White House for President Biden’s signature.
However, the legislative journey was far from easy, Steube explained in the release.
“More than two years ago, Hurricane Ian decimated my district. Due to inaction by Congress, millions of Americans have missed out on the disaster tax deductions that are typically available after presidentially declared disasters,” he said.
His tax relief proposal aimed to assist people impacted by natural disasters, including floods, tornadoes, wildfires, hurricanes, and the 2023 train derailment in Ohio, which caused pollution and evacuations.
“Floridians have compounded damage and rebuilding expenses from five hurricanes since Ian, including three back-to-back hurricanes this season,” he stated. “I promised to fight for full hurricane recovery for my district as long as it takes. Today, Congress delivered on my promise.”
Steube estimated that Florida residents could see tax relief worth “hundreds of millions of dollars” as a result of the new law.
Key Changes Under the Disaster Tax Relief Legislation
Elimination of the AGI Threshold:
The 10% Adjusted Gross Income (AGI) threshold for claiming disaster-related losses is removed.
Non-Itemized Deductions:
Taxpayers can claim disaster-related losses without itemizing deductions.
Tax-Free Settlements:
Settlements received by disaster victims are now tax-exempt.
Specific Disaster Relief Coverage:
Provides relief for victims of hurricanes Ian, Nicole, Idalia, Helene, Debby, and Milton.
Includes tax relief for wildfire victims in the Western U.S.
Extends relief to those impacted by the 2023 train derailment in East Palestine, Ohio.
Bipartisan Legislation Impact:
The law supports recovery efforts across the U.S., regardless of state or political affiliation.
Financial Relief Scope:
Expected to provide "hundreds of millions of dollars" in tax relief for Florida residents and others affected by natural disasters.
