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Rubio Joins Colleagues In Introducing Tax Relief Bill For Victims Of Hurricane Michael & Other Natural Disasters

Nov 27, 2018 | Press Releases

Washington, D.C. – U.S. Senator Marco Rubio (R-FL) joined Senators Richard Burr (R-NC), Thom Tillis (R-NC), Lindsey Graham (R-SC), Bill Nelson (D-FL), Dianne Feinstein (D-CA), and Kamala Harris (D-CA) in introducing the Hurricanes Florence and Michael and California Wildfire Tax Relief Act to aid victims of recent natural disasters. This legislation would allow taxpayers to use earned income from the preceding year when claiming Earned Income Tax Credit and Child Tax Credit. It would also allow more taxpayers to claim a deduction for personal casualty losses by removing requirement to itemize, encourage employers in hard-hit areas to retain employees, and expand Opportunity Zones to hardest-hit areas.
“I’ve been working to ensure that Floridians who were affected by Hurricane Michael receive the support they need from the federal government, and one of the best ways to do that is to provide tax relief so that they can use their money to recover,” Rubio said. “I am proud to work with my colleagues from other states experiencing natural disasters, including Senator Burr, to introduce this bill so that Americans affected by Hurricane Michael can continue rebuilding their lives and communities.”
“The historic hurricanes that hit Florida and the Carolinas this year devastated communities across the Southeast,” Burr said. “Homes were destroyed, businesses swept away and savings wiped out. It is critical that Congress act quickly to provide tax relief for those still struggling to rebuild their lives and livelihoods. This legislation provides several important tax breaks for eligible individuals and businesses that will help lessen the burdens they face and allow them to rebuild their futures. “
“Hurricane Florence had a devastating impact on North Carolina, creating financial hardship for many families across the state,” Tillis said. “I’m proud to join my colleagues in introducing bipartisan legislation that would provide much-needed relief for families and small businesses who have been hit by recent natural disasters, including North Carolinians affected by Hurricane Florence.”  
“Hurricanes Florence and Michael brought unimaginable devastation to South Carolina and surrounding states,”  Graham said.  “This tax relief package will afford South Carolinians, and other Americans who have been impacted by disaster, greater flexibility in utilizing retirement account assets for immediate disaster-related needs.  It’s similar to the legislation we passed to support Texans suffering in the wake of Hurricane Harvey in 2017.  I applaud Senator Burr’s leadership on this issue and urge Congress to pass our legislation immediately.”
“It’s heartbreaking to see our communities devastated by wildfire and hurricanes,” Feinstein said. “Our bipartisan bill will help families recover by providing them with much-needed tax relief as we begin to rebuild in the aftermath of these natural disasters.”
“The wildfires that tore across California this year claimed precious lives, devastated communities, destroyed thousands of homes, and forced hundreds of thousands of Californians to evacuate,” Harris said. “The road to recovery for these communities won’t be easy, and we have a responsibility to give them the federal support they desperately need. Today, I am proud to join with my colleagues to provide these families working to rebuild their lives with much-needed tax relief