Rep. Lawson Cosponsors Tax Bill to Ease Financial Burden on Hurricane Michael Victims
WASHINGTON, D.C. – U.S. Rep. Al Lawson (FL-05) recently co-lead H.R. 7166, the Hurricane Michael Tax Relief Act to provide individuals affected by Hurricane Michael penalty-free early access to their retirement savings and to help employers and businesses within the disaster area.
This legislation extends benefits based on counties that are currently approved for federal disaster assistance or in the major disaster area declared by the president, which includes Leon and Gadsden counties.
This bill would also make it easier for individuals to qualify for personal casualty loss deductions, provide tax relief to help businesses retain employees, suspend limitations on charitable contributions associated with hurricane relief, and grant taxpayers the option to refer to earned income from the previous year for determining the Earned Income Tax Credits and Child Tax Credits.
Congressman Lawson was on the ground following Hurricane Michael, which ravaged through Florida’s Panhandle in October. Earlier this month, the congressman urged FEMA to provide more vehicles, mobile homes, leases and group sites to the communities that were hit by Hurricane Michael.
The legislation mirrors the same tax relief that was extended to victims of the 2017 storms, as well as a bill pertaining to Hurricane Florence.
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