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Knight Applauds Fire Loss Deduction Provisions in Disaster Relief Package

Statement

Date: Dec. 21, 2017
Location: Washington, DC
Issues: National Security

On December 21, 2017 the House of Representatives approved of H.R. 4667, the Emergency Disaster Aid Package. Included in this bill are the provisions of H.R. 4397, the California Wildfire Disaster Tax Relief Act, introduced by Representative Mimi Walters (R-CA) and cosponsored by Representative Steve Knight (R-CA). These provisions would protect the ability of disaster victims to deduct the value of fire and earthquake losses from their federally taxable income.

"I'm relieved my colleagues and I were able to successfully put these provisions into this aid package." Said Rep. Knight "Fire and earthquake loss deductions are vital to help families recover from these devastating disasters. The recent fires in my district and throughout Southern California are proof that this bipartisan policy is absolutely necessary."


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