“The historic wildfires that tore through the Texas Panhandle last year have left a lasting mark on all the ranchers, families, and communities involved."
Texas Insider Report: WASHINGTON, D.C. – “The historic wildfires that tore through the Texas Panhandle last year left a lasting mark on all the ranchers, families, and communities involved. I’m honored to reintroduce this critical legislation and am committed to making sure those hit hardest by this catastrophic disaster can use the assistance they’ve received to rebuild their farms, ranches, and livelihoods – not pay the federal government,” said Cong. Ronny Jackson (R-Texas 13) as he and Sen. Ted Cruz reintroduced the "Wildfire Victim Tax Relief & Recovery Act" to provide tax relief for victims who suffered significant losses in the Panhandle when wildfires burned 1.2 million acres, destroyed homes, and killed 1,000s of cattle.
Upon reintroduction, Sen. Cruz said, “Last year, historic wildfires destroyed the Panhandle, taking the homes and livelihoods of thousands of Texans. This bill will deliver much needed tax relief to support these communities in their ongoing recovery efforts. I urge my colleagues to pass this bill without delay.”
BACKGROUND
The Wildfire Victim Tax Relief & Recovery Act:
- Exempts government relief payments and settlement payments from Xcel Energy from income taxes.
- Provides tax relief to producers who were forced to sell livestock due to the Panhandle fires.
- Read the bill text here.
