Two Florida congressional leaders seek more tax relief for victims of crime after disasters

Ashley Moody takes the fight with Big Tech to the Supreme Court. Image via AP.

Two Florida congressional members have drafted a measure to provide tax relief for crime victims in the aftermath of natural disasters.

Fellow Republicans Sen. Ashley Moody and Rep. Greg Stuebe, of Florida’s 17th Congressional District based in Sarasota, introduced the “Tax Relief for Victims of Crimes, Scams and Disasters Act” on Capitol Hill. The measure is designed to provide tax deductions for victims of theft and casualty who have endured losses due to natural disasters, fraud, cybercrime and structural home failures.

Taxpayers can currently deduct only casualty and theft losses in a federally declared disaster area. The proposed Moody-Stuebe measure addresses policy recommendations by the Donald Trump administration and former Treasury Secretary Steven Mnuchin to restore tax relief considerations for a wider scope of victims.

“As hurricane season is around the corner, I will continue supporting policies that protect Floridians from scammers and fraudsters,” said Moody. “My Tax Relief for Victims of Crimes, Scams and Disasters Act will provide common sense tax relief for victims, often seniors, who have been financially devastated by scams, crimes, or destruction from disasters. This legislation will help folks get back on their feet when they experience hardship.”

A news release said the Tax Relief for Victims of Crimes, Scams, and Disasters Act is supported by the AARP, American Land Title Association, Elder Justice Coalition, Family Business Coalition, Financial Services Institute, Investment Advisers Association, National Association of Consumer Advocates, and numerous other advocacy groups.

The measure advocates a reinstatement of tax deductions for personal casualty losses and an extension of time to file claims for credits or refunds, among other elements.

“Hardworking Americans, especially seniors, who fall victim to scams, cybercrime, or disasters should not be forced to pay taxes on income they no longer have,” said Steube. “Victims of crime, calamity, and fraud deserve peace of mind as they work to regain their footing. This bill protects Americans who have lost everything by restoring fairness and common sense to the tax code.”