HOUSE PASSED: Brady Bill to Deliver Immediate Tax Relief to Hurricane Victims
Today, the House passed the Disaster Tax Relief and Airport and Airway Extension Act of 2017 (H.R.3823), which includes House Ways and Means Committee Chairman Kevin Brady’s (R-TX) bill to deliver targeted tax relief to the victims of Hurricanes Harvey, Irma, and Maria.
As Chairman Brady said in support of his legislation:
“Hundreds of thousands of families have lost everything – even loved ones. This legislation will help them begin to recover through meaningful, targeted tax relief they need now.”
CLICK HERE or the image above to watch the Chairman’s remarks.
Below are the Chairman’s full remarks, delivered on the House floor last night:
“Thank you Mr. Speaker. I first want to thank Mr. Curbelo for his leadership in crafting this disaster relief package for our communities, and Chairman Schuster for his leadership on this bill as well.
“I rise today not only on behalf of the people in my district in Texas – who have been just hammered – but on behalf of everyone in Texas, Puerto Rico, Florida, and the Virgin Islands who has been devastated by this fall’s destructive hurricanes. These are people who desperately need the support of our bill, the Disaster Tax Relief and Airport and Airway Extension Act.
“Hundreds of thousands of families have lost everything – even loved ones. This legislation will help them begin to recover through meaningful, targeted tax relief they need now.
“Earlier this week, as communities continued to be decimated by record-high wind gusts, flooding, and storm surges, regrettably my House Democrats friends opposed this critical bill – putting politics above the very people they represent.
“I stand here today to say: we all have to do better.
“We have to show the nation we can stand together in times of great tragedy to help each other and our neighbors – just as our people did in our district in the aftermath of Hurricane Harvey.
“I strongly urge support for this bill. Provide the relief.”
H.R. 3823 helps communities that have been severely affected by hurricanes in recent months through:
- Creating a deduction for personal casualty losses with respect to uncompensated losses arising in disaster areas, eliminating the current law requirement that personal casualty losses must exceed 10% of adjusted gross income,
- Granting penalty-free access to retirement funds, and
- Encouraging charitable giving from Americans across the country.
CLICK HERE to learn more about how the legislation will help people in Texas, Florida, Puerto Rico, and the Virgin Islands.