WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and Laphonza Butler (D-CA) introduced legislation to provide tax relief for those affected by Hurricane Ida. The bill would allow Hurricane Ida victims and victims of other Presidentially-declared major natural disasters to deduct qualified disaster-related personal casualty losses from their income, even when taking the standard deduction. Additionally, it would waive the 10 percent floor for deductions allowed under current law.
“Two years later, communities are still recovering from Hurricane Ida, and every little bit helps,” said Dr. Cassidy. “This bill provides significant tax relief for Louisianans using their own money to rebuild their lives.”
“Californians on the frontlines of the climate crisis have been devastated by wildfires and floods in recent years,” said Senator Butler. “The Federal Disaster Tax Relief Act of 2024 would ensure that those most heavily affected by climate change would receive much-needed tax relief to invest in rebuilding their lives and communities after a natural disaster.”
This legislation is part of Cassidy’s continued effort to support the people of Louisiana affected by Hurricane Ida and builds upon his previous work to support disaster victims. Cassidy secured the same tax relief in 2020 to help Hurricane Laura victims and in 2017 for Louisianans impacted by the Great Floods of 2016.
Cassidy’s legislation is being considered as part of the larger tax package currently under consideration in the U.S. House of Representatives and U.S. Senate.
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