Bills · HR 140
IN COMMITTEE· 119TH CONGRESS
House BillHR 140Income tax creditsCharitable contributions
Hurricane Helene and Milton Tax Relief Act of 2025
INTRO JAN 3· LAST ACTION JAN 3
READING
15MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it aims to provide immediate financial relief to communities devastated by natural disasters. When hurricanes strike, people often lose jobs, homes, and income, making it hard to recover. By allowing a more favorable calculation for the Earned Income Credit, the bill puts more money back into the pockets of affected low- and moderate-income families.
Furthermore, by increasing the tax deduction limits for charitable donations and allowing donations made early next year to count for this year's taxes, it incentivizes more people and businesses to contribute to recovery efforts. This can speed up the rebuilding process and provide critical resources to those in need. If this bill becomes law, it could help individuals and communities recover faster from the financial fallout of Hurricanes Helene and Milton; if it doesn't, many might face a longer, harder road to recovery without these specific tax advantages.
KEY PROVISIONS
5AI-extractedPROVISION 01
Allows individuals in Hurricane Helene and Milton disaster areas to calculate their Earned Income Credit using their income from the previous year, if that income was higher than their current year's income.
This helps prevent disaster victims from receiving a smaller tax credit just because their income temporarily dropped due to the hurricane, providing crucial financial stability.
PROVISION 02
Increases the amount individuals can deduct from their taxes for charitable contributions specifically made for Hurricane Helene and Milton disaster relief.
This encourages more individual donations to support recovery efforts by making them more tax-advantageous.
PROVISION 03
Increases the amount corporations can deduct from their taxes for charitable contributions specifically made for Hurricane Helene and Milton disaster relief.
This encourages corporate philanthropy and financial support for disaster-stricken areas.
PROVISION 04
Allows certain charitable contributions for hurricane relief made between January 1 and April 15, 2025, to be treated as if they were made in 2024.
This provides faster tax relief for donors and potentially encourages quicker donations for recovery efforts immediately following the disasters.
PROVISION 05
Establishes special rules for the use of retirement funds for individuals affected by the hurricanes.
This likely allows disaster victims to access their retirement savings without penalty to cover urgent needs, helping them rebuild their lives.
SPONSORSHIP
1 + 1
R· Florida
YRS IN OFFICE
19
BILLS LED
46
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 1 IND 0
ACTION TIMELINE
2 EVENTSJAN 3
Introduced in House
JAN 3
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 140
Congress119th
StatusIn Committee
IntroducedJan 3, 2025
Last actionJan 3, 2025
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IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JAN 3, 2025
House BillHR 140Income tax creditsCharitable contributions
Hurricane Helene and Milton Tax Relief Act of 2025
INTRODUCED JAN 3, 2025· LAST ACTION JAN 3, 2025
PASSAGE CHANCES
—%
READING
15 min
COSPONSORS
1
COMPLEXITY
Moderate
