{"id":2397802,"date":"2025-02-01T11:38:01","date_gmt":"2025-02-01T16:38:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/proposal-no-federal-income-tax-on-catastrophe-loss-mitigation-programs-washington-examiner\/"},"modified":"2025-02-01T11:40:45","modified_gmt":"2025-02-01T16:40:45","slug":"proposal-no-federal-income-tax-on-catastrophe-loss-mitigation-programs-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/proposal-no-federal-income-tax-on-catastrophe-loss-mitigation-programs-washington-examiner\/","title":{"rendered":"Proposal: No federal income tax on catastrophe loss mitigation programs &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fproposal-no-federal-income-tax-on-catastrophe-loss-mitigation-programs-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2397802&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A proposal by Republican Senator Thom Tillis from north \u2064Carolina suggests that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/zoom-profits-in-2020-660-million-zoom-tax-payment-in-2021-0\/\" title=\"Zoom Profits in 2020: 0 Million. Zoom Tax Payment In 2021: federal income tax.\">federal income tax<\/a> shoudl not\u200b apply to funds provided through\u200b state-based catastrophe loss \u2064mitigation programs.This \u2062initiative, known as the Disaster Mitigation and Tax Parity Act of 2025 (Senate Bill 336), aims to incentivize property improvements that reduce damage\u200d from disasters like hurricanes\u200d and \u2063wildfires. The proposal is \u2062supported by other \u200clawmakers, including\u200b Democratic Senators Adam Schiff \u200cand \u200dAlex Padilla, and \u200chas garnered endorsements from <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-attorney-general-investigating-chino-school-district-over-gender-parental-notification-policy\/\" title=\"CA Attorney General probes Chino School District for gender parental notification policy.\">state \u2063officials<\/a> and \u200cinsurance organizations. the legislation is designed\u200b to \u200bhelp\u2064 homeowners rebuild faster post-disaster\u2064 and stabilize\u2062 the insurance market by ensuring \u2063grants for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/landslide-in-indonesia-kills-at-least-11-dozens-missing\/\" title=\"Landslide in Indonesia kills at least 11; dozens missing\">disaster mitigation<\/a>\u2063 are tax-free. \u200dthe bill emphasizes the need\u200c for\u2063 proactive disaster preparedness \u200bto \u200cbuild community resilience against future incidents.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Proposal: No federal income tax on catastrophe loss mitigation programs<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1963768\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; Income tax should not be paid on money provided through state-based catastrophe loss mitigation programs, says a U.S. Senate proposal from North Carolina Republican Thom Tillis.<\/p>\n<div class=\"article-paywall\">\n<p>Insurance Commissioner Mike Causey, the only Republican elected to the position in Tillis&rsquo; home state, agrees. As do cosponsoring Democratic Sens. Adam Schiff and Alex Padilla of California, and Republican Bill Cassidy of Louisiana.<\/p>\n<p>The&nbsp;<a href=\"https:\/\/www.tillis.senate.gov\/services\/files\/B233BCB8-28BA-46A2-8575-C7C5CA18D2F0\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Disaster Mitigation and Tax Parity Act of 2025<\/strong><\/a>, or Senate Bill 336, was first routed to the chamber&rsquo;s Finance Committee led by Republican Sen. Mike Crapo of Idaho.<\/p>\n<p>Hurricane Helene caused an estimated $53 billion damage in North Carolina, wiping out homes and communities and killing 104. The storm is responsible for 233 deaths in seven states. Areas near Los Angeles were swept by wildfire in January, killing 29, forcing nearly a quarter-million people to evacuate, and damaging more than 18,000 structures.<\/p>\n<p>&ldquo;By <a href=\"https:\/\/amzn.to\/3YuVZYV\">excluding qualified catastrophe mitigation payments<\/a> from income tax, we are incentivizing property owners to make the necessary improvements that reduce damage and save lives,&rdquo; Tillis said in a release. &ldquo;This proactive approach to disaster preparedness not only helps families rebuild faster but strengthens our resilience in the face of future disasters.&rdquo;<\/p>\n<p>Causey said the grants have direct impact on insurers and claims, a component &ldquo;critical for ensuring an insurance market that is stable and available and affordable for homeowners.&rdquo;<\/p>\n<p>&ldquo;Passing federal legislation that would ensure all state-funded, pre-disaster mitigation grants are tax-free would allow these grants to have the maximum impact,&rdquo; Causey said.<\/p>\n<p>The North Carolina Insurance Association endorsed the proposal. CEO Gina Hardy said grant money should be free of federal taxation, enabling policyholders to strengthen and improve their homes.<\/p>\n<p>&ldquo;Qualified catastrophe mitigation payment&rdquo; as defined in the bill language would be any amount &ldquo;received for making improvements to an individual&rsquo;s property for the sole purpose of reducing the damage that would be done to such property by a windstorm, earthquake, flood, or wildfire,&rdquo; a release says.<\/p>\n<p>President Donald Trump&rsquo;s first domestic trip after taking office was to North Carolina and California to talk with residents, leaders and see damage.<\/p>\n<p>&ldquo;Homeowners should not face additional taxes for wanting to protect their homes and our bipartisan legislation will provide the needed tax relief to help affected Americans recover from these disasters,&rdquo; Schiff said.<\/p>\n<p>Joining the&nbsp;<a href=\"https:\/\/www.congress.gov\/bill\/119th-congress\/senate-bill\/336\/all-actions?s=1&amp;r=3\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>cosponsor list at day of filing Thursday<\/strong><\/a>&nbsp;were Republican Sens. Ted Budd of North Carolina, John Kennedy of Louisiana and Roger Wicker of Mississippi; and Democratic Sens. John Hickenlooper of Colorado, Amy Klobuchar of Minnesota, Michael Bennet of Colorado and Jeff Merkley of Oregon.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1963768\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1963768\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Proposal: Exempt state catastrophe loss mitigation funds from federal income tax, says Sen. Thom Tillis<\/p>\n","protected":false},"author":1,"featured_media":2397803,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/north-carolina-state-capitol-istock-1024x683.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[49642,49641,49643,5210,32076],"class_list":["post-2397802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-catastrophe-loss","tag-federal-income-tax","tag-mitigation-programs","tag-proposal","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/north-carolina-state-capitol-istock-1024x683.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2397802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2397802"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2397802\/revisions"}],"predecessor-version":[{"id":2397806,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2397802\/revisions\/2397806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2397803"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2397802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2397802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2397802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}