SARASOTA, Fla. — U.S. Rep. Greg Steube’s push for a presidential signature is successful.
Steube announced Friday that his Federal Disaster Tax Relief Act was signed into law by President Joe Biden.
“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 delivers tax relief for people working through natural disasters, it stated.
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 makes settlements for disaster victims tax-free along with providing relief for hurricanes Ian, Nicole, Idalia, Helene, Debby and Milton, the news release stated.
Also included are tax relief for wildfire victims out West and people impacted by a damaging train derailment in East Palestine, Ohio in 2023.
“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 stated. “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 attempting to shepherd through Congress since Hurricane Ian, finally was passed by the U.S. Senate and is headed to the White House for the president’s approval.
But it wasn’t an easy process, he stated in a news 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 stated.
His tax relief concept was for people impacted by natural disasters, including floods, tornadoes, wildfires and hurricanes, along with a 2023 Ohio train derailment that left pollution and evacuations in its wake.
“Floridians have compounded damage and rebuilding expenses from five hurricanes since Ian, including three back-to-back hurricanes this season,” he stated in the news release. “I promised to fight for full hurricane recovery for my district as long as it takes. Today, Congress delivered on my promise.”
He believes Florida residents will see a tax relief of “hundreds of millions of dollars” due to his legislation.
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