Bill · H.R. 481· House(119-HR-481)
Protecting Homeowners from Disaster Act of 2025
- Introduced
- 1/16/2025
- Last activity
- 1/16/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Julia Brownley
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
This bill, known as the ``Protecting Homeowners from Disaster Act of 2025'', aims to change the Internal Revenue Code of 1986. Specifically, it seeks to repeal the current limitation on deductions for personal casualty losses. The change involves striking paragraph (5) of Section 165(h). This amendment would apply to losses sustained in taxable years starting after December 31, 2024.
Yes· 3 of 7
Would middle-income households be better off under this?+3
The bill eases the financial burden on middle-class households by removing limits on casualty loss deductions.
Does this cut taxes for middle-income families?+3
The bill allows middle-income families to deduct personal casualty losses without the previous limitations.
Does this improve help for people hit by a disaster?+3
The bill provides direct financial relief through tax deductions for individuals affected by disasters.
The opposite
Does this reduce what the federal government spends?-1
The removal of tax deduction limitations reduces federal tax revenue.
Who it would affect, and how
Potential Positive Impacts for People
- Repeal of Deduction Limitations: By striking paragraph (5) of Section 165(h), the bill removes the current restrictions on deducting personal casualty losses. This could provide financial relief to individuals facing such losses (Section 2(a)).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Middle Class Households+3Good For Low Income Households+2Good For Seniors+2
- Economy And Finance
- Reduces Middle Class Taxes+3Reduces Small Business Taxes+2Reduces Government Spending-1
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+3
- Social Issues And Justice
- Improves Poverty Reduction+2
- 2/11/2025
- 1 Cosponsor added.
- 1/16/2025
- Referred to the House Committee on Ways and Means.
- Introduced in House
Val HoyleDemocrat · Oregon