Vern Buchanan introduces tax relief bill for Hurricane Helene, Milton victims

U.S. Rep. Vern Buchanan will seek tax relief for victims of Hurricanes Helene and Milton.

The Longboat Key Republican filed legislation seeking specific relief for those communities hit this year by back-to-back storms.

“Our constituents deserve the full support of the federal government as they work to recover and rebuild from these two devastating hurricanes which hit within two weeks of one another,” Buchanan said.

“Many of my constituents incurred thousands of dollars in disaster-related expenses, with some losing everything, and the burdensome tax code should be the last thing standing in their way of receiving the support they need.”

Buchanan serves as Vice Chair of the House Ways and Means Committee, which deals with tax policy. Other members of that committee signed on quickly as co-sponsors, including U.S. Rep. Greg Steube, a Sarasota Republican.

Buchanan and Steube represent neighboring districts on Florida’s Gulf Coast that took hits from both storms. Steube already successfully carried bipartisan legislation passed in the House that would provide relief for residents in federally declared disaster areas. He has pressed the Senate to take up the bill before the close of the current Congress.

“Floridians take on disaster recovery and rebuilding expenses through no fault of their own. That’s why I’ve worked to deliver tax relief since Hurricane Ian with my House-passed Federal Disaster Tax Relief Act,” Steube said.

The Hurricane Milton and Helene Tax Relief Act would be more targeted. It would raise the charitable donation cap for donations from 60% to 100% of adjusted gross income, making it easier for those who want to financially contribute to their communities’ recovery. The legislation would also allow individuals who qualify for the Earned Income Tax Credit to use their 2023 income to file for 2024, easing a burden for those whose pay took a hit because of the storms.

“I’m glad to support the Hurricane Milton and Helene Tax Relief Act, which eliminates the 10% adjusted gross income threshold requirement for claiming casualty loss deductions,” Steube said. “This piece of our tax code has plagued Floridians for years, and this provision will be a welcomed, permanent change.”

The legislation had 10 introducing co-sponsors, including those from Florida, Georgia and North Carolina impacted by the storms. The bipartisan group included GOP U.S. Reps. Gus Bilirakis, Neal Dunn, Scott Franklin, Laurel Lee, Anna Paulina Luna and Daniel Webster, as well as Democratic U.S. Rep. Sheila Cherfilus-McCormick.

“I’m pleased to be joined by so many of my colleagues in introducing this critical legislation to provide commonsense solutions to help those still suffering and am hopeful that Congress can come together and support my proposal with broad bipartisan support,” Buchanan said.

His Office noted the legislation includes targeted provisions passed in prior relief packages, including the Katrina Emergency Tax Relief Act in 2005.