Washington, DC: Congressman Ron Paul recently introduced legislation that provides significant tax relief for Texans affected by Hurricane Rita. HR 4066, the Evacuees Tax Relief Act, addresses the out-of-pocket expenses incurred and income lost by people in south Texas forced to flee Hurricane Rita.

Residents in Chambers, Galveston, Fort Bend, and other evacuated counties will benefit under Paul’s bill. It provides tax relief designed to offset evacuations costs, and applies to both income and payroll taxes so that working people benefit regardless of their tax bracket.

Taxpayers can choose either a $5,000 tax credit or $5,000 tax deduction for expenses resulting from government-ordered evacuations, whether mandatory or voluntary. Such expenses might include food, lodging, and gas, along with lost wages from missing work. HR 4066 is retroactive, so those affected by Hurricanes Katrina, Rita, and Wilma can claim the benefit for this year.

This entry was posted on Tuesday, November 15th, 2005 at 3:14 am and is filed under Press Releases. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.