WASHINGTON – U.S. Sens. Joni Ernst, R-Iowa, and Chuck Grassley, R-Iowa, introduced legislation to provide tax relief for Iowans in areas impacted by the recent devastating floods.

“My number one focus right now remains squarely on how to get our fellow Iowans the help and support they need—and to get it as quickly as possible,” Ernst said. “This bill will help provide important and badly-needed relief for Iowans in disaster areas.”

“Families and businesses in Iowa and throughout the nation are working to rebuild their lives and reopen the doors of their businesses after the terrible disasters that have ravaged parts of the nation. The Disaster Tax Relief Act of 2019, which includes a series of disaster tax relief provisions, would give a hand up to Americans who are trying to move forward and get their lives back on track and businesses trying to get up and running again,” Grassley stated.

The Disaster Tax Relief Act of 2019 would provide tax relief for individuals in areas of Iowa and Nebraska that have been declared a major disaster by the president.

Benefits under the bill include special rules allowing access to retirement funds, a special tax credit for employee retention during business interruption, suspension of limits on deductions for certain charitable contributions, special rules for deductions for disaster-related personal casualty losses, and special rules for measurement of earned income for purposes of qualification for tax credits.  A more detailed summary of the bill is available here.

U.S. Sens. Deb Fischer, R-Neb., is an additional sponsor in the U.S. Senate and U.S. Rep. Adrian Smith, R-Neb., is the sponsor in the House.

Get CT In Your Inbox!

Don't miss a single update.

You May Also Like

Iowa’s 20-Week Abortion Ban Heads to Governor Branstad’s Desk

The Iowa Senate passed the Iowa House’s amendment to the 20-week abortion ban 30 to 20 sending the bill to Governor Terry Branstad’s desk.

Iowa Secretary of State Michael Mauro Lies About Photo ID; Matt Schultz Demands Answer

Council Bluffs, Iowa – September 15, 2010 – Councilman Matt Schultz won…

Trump’s Trade Deal With Japan Will Do Wonders For Iowa Farmers

Tana Goertz: The new trade deal with Japan will protect our farmers by giving them an alternative market for agricultural exports that Beijing promised to purchase.

Findley Calls on Miller to Explain Missed Deadline That Allowed 2 Violent Sexual Predators to Go Free

GOP Attorney General candidate Brenna Findley  yesterday challenged Attorney General Tom Miller…