HR. 140In Committee
Hurricane Helene and Milton Tax Relief Act of 2025
Expands tax relief for Hurricane Helene and Milton victims through charitable deduction increases, retirement plan withdrawal and loan changes, and an earned income tax credit calculation option
Plain-English overview
What this bill does
Expands tax relief for Hurricane Helene and Milton victims through charitable deduction increases, retirement plan withdrawal and loan changes, and an earned income tax credit calculation option
Key points
- Allow penalty free retirement withdrawals
- Allow prior year EITC calculation
- Increase charitable deductions
- Expand retirement plan loan limits
Current status
Where it stands
Status
In Committee
Latest action
2025-01-03 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedCharitable contributionsEmployee benefits and pensionsIncome tax creditsIncome tax deductionsNatural disastersTaxation