WASHINGTON, Sept. 14 -- The House Ways & Means Committee Chairman issued the following news release:
WASHINGTON, D.C. - Americans rebuilding after wildfires, hurricanes, floods, and other disasters will keep getting fairer tax treatment, thanks to the Doug LaMalfa Federal Disaster Tax Relief Certainty Act (H.R. 5366) - bipartisan legislation introduced by Ways and Means Committee members Representatives Greg Steube (FL-17), Mike Thompson (CA-04), and Jimmy Panetta (CA-19), and signed into law by President Trump. The bill is named in honor of the late Representative Doug LaMalfa (CA-01), who championed disaster tax relief for years.
Previously, taxpayers hit by a federally declared disaster could generally only deduct personal casualty los...