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Claiming Losses After Disasters Act

12/30/2022, 8:33 AM

Congressional Summary of S 3173

Claiming Losses After Disasters Act

This bill revises the tax deduction for personal casualty losses arising from major federally-declared disasters. It replaces the current requirement that such losses exceed 10% of a disaster victim's adjusted gross income before a deduction can be claimed with a minimum threshold of $500 in losses per disaster.

Current Status of Bill S 3173

Bill S 3173 is currently in the status of Bill Introduced since November 4, 2021. Bill S 3173 was introduced during Congress 117 and was introduced to the Senate on November 4, 2021.  Bill S 3173's most recent activity was Read twice and referred to the Committee on Finance. as of November 4, 2021

Bipartisan Support of Bill S 3173

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 3173

Primary Policy Focus

Taxation

Potential Impact Areas

- Administrative law and regulatory procedures
- Congressional oversight
- Department of Health and Human Services
- Government information and archives
- Government studies and investigations
- Government trust funds
- Health care coverage and access
- Medicare
- Performance measurement

Alternate Title(s) of Bill S 3173

Claiming Losses After Disasters Act
Claiming Losses After Disasters Act
A bill to amend the Internal Revenue Code of 1986 to provide special rules for personal casualty losses arising from major disasters.

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