President Enacts Bipartisan Disaster Tax Relief Legislation

President Trump has signed the Doug LaMalfa Federal Disaster Tax Relief Certainty Act (H.R. 5366) into law. This bipartisan measure provides tax relief for natural disaster victims, allowing them to deduct qualified losses over $500 without itemizing and removing the 10% adjusted gross income threshold. This legislation aims to ease financial burdens for Americans rebuilding after events like wildfires and floods.