Jimmy Panetta: “I support the Doug LaMalfa Federal Disaster Tax Relief Certainty Act. I am a proud cosponsor, co-lead of this bill with…”

“I support the Doug LaMalfa Federal Disaster Tax Relief Certainty Act. I am a proud cosponsor, co-lead of this bill with Representatives Greg Steube and Mike Thompson, a bill that would build on the Federal Disaster Tax Relief Act which we passed last Congress, thanks to the leadership of Representative Steube, a bill that would ensure that those impacted by disasters nationwide have continued access to tax relief. This is one of those bills, as you are going to hear from Representative Steube, from Mr. Thompson, and from Ms. Tokuda, that is not a partisan topic when it comes to providing proper tax relief for our constituents who have been affected by natural disasters, disasters that don't just affect red States or blue States. They affect all American States. That is why this bill is so important. It would extend the provisions of the Federal Disaster Tax Relief Act through 2026 to, one, ensure that those affected by fires and natural disasters can claim the personal casualty loss deduction to help in the recovery. Two, would exempt fire settlements from taxation to avoid devastating tax bills on wildfire victims.”