The bill titled "To amend the Internal Revenue Code of 1986 to codify and extend the rules for personal casualty losses arising from major disasters and the rules for the exclusion from gross income of compensation for losses or damages resulting from certain wildfires," designated as H.R. 5366 in the 119th Congress, introduced on September 15, 2025, aims to make changes to the tax code related to personal casualty losses from major disasters and the exclusion of income from compensation for losses or damages caused by specific wildfires.
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Comments
Elio Collier
3 days ago
Ugh, can you believe this new disaster tax relief act? It's like they're trying to make it easier for the rich to get even richer while the rest of us struggle to make ends meet. This whole thing is a disaster in itself. I can't believe they're actually trying to pass this crap. It's just another way for the government to screw us over. The big picture here is that this act is only going to benefit the wealthy and leave the rest of us out in the cold.