Burr and Tillis Introduce Bill for Victims of Disaster

Senators Richard Burr (R-NC), Thom Tillis (R-NC), and 5 other senators have introduced the Hurricanes Florence and Michael and California Wildfire Tax Relief Act.  “This legislation provides several important tax breaks for eligible individuals and businesses that will help lessen the burdens they face and allow them to rebuild their futures,” said Senator Burr. The Hurricane Florence and Michael and California Wildfire Tax Relief Act:  Allows more taxpayers to claim a deduction by removing requirement to itemize; Removes penalties on certain retirement accounts; Encourages employers in hard-hit areas to retain employees; and Suspends limits on charitable contributions to disaster relief efforts.