WASHINGTON, Aug. 7 -- Sen. Alex Padilla issued the following press release:
Legislation to Remove Taxes on Los Angeles Wildfire Settlements to Become Law
WASHINGTON, D.C. - Today, the Senate unanimously passed the Doug LaMalfa Federal Disaster Tax Relief Certainty Act, which included a version of U.S. Senators Alex Padilla (D-Calif.), Cynthia Lummis (R-Wyo.), Ron Wyden (D-Ore.), and Tim Sheehy's (R-Mont.) bipartisan and bicameral Protect Innocent Victims of Taxation After Fire Extension Act to ensure wildfire survivors are not taxed on compensation they receive for losses and damages suffered during a federally-declared wildfire disaster before January 1, 2027. Representatives Mike Thompson (D-Calif.-04) and the late Doug LaMalfa (R-Calif...