To provide tax relief for damages relating to Hurricanes Helene and Milton.
1/23/2025, 9:05 AMSummary of Bill HR 140
Bill 119 HR 140, also known as the "Tax Relief for Hurricanes Helene and Milton Act," aims to provide tax relief for individuals and businesses who have suffered damages as a result of Hurricanes Helene and Milton. The bill specifically targets those who have incurred expenses related to repairing or rebuilding their property, as well as those who have experienced financial losses due to the hurricanes.Under this legislation, individuals and businesses affected by Hurricanes Helene and Milton will be eligible for tax deductions and credits to help offset the costs of recovery. This includes deductions for expenses such as property repairs, temporary housing, and lost income. Additionally, the bill provides for tax credits for businesses that have experienced significant losses as a result of the hurricanes.
The goal of Bill 119 HR 140 is to provide much-needed financial relief to those who have been impacted by Hurricanes Helene and Milton, helping them to recover and rebuild in the aftermath of these devastating natural disasters. The bill has received bipartisan support in Congress and is expected to be passed into law in the near future.
Current Status of Bill HR 140
Bill HR 140 is currently in the status of Bill Introduced since January 3, 2025. Bill HR 140 was introduced during Congress 119 and was introduced to the House on January 3, 2025. Bill HR 140's most recent activity was Referred to the House Committee on Ways and Means. as of January 3, 2025Bipartisan Support of Bill HR 140
Total Number of Sponsors
6Democrat Sponsors
0Republican Sponsors
6Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
0Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 140
Primary Policy Focus
Alternate Title(s) of Bill HR 140
To provide tax relief for damages relating to Hurricanes Helene and Milton.To provide tax relief for damages relating to Hurricanes Helene and Milton.Comments
Most relevant
Sponsors and Cosponsors of HR 140
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