Following the devastating wildfires in California that resulted in 29 deaths and widespread destruction, lawmakers from both parties are collaborating to offer tax breaks aimed at disaster prevention. Proposed measures include a 25% tax credit for homeowners implementing fire-resistant upgrades, designed to reduce future damage. While discussion of these provisions is underway alongside the federal budget, the timeline for implementation remains uncertain. Miklos Ringbauer emphasizes that these preventive tax breaks could significantly reduce the potential damage from disasters.
The Senate on Wednesday began considering next year's federal budget, but final passage of any specifics remains a long way off.
Rep. Kevin Kiley, R-Roseville, is the chief sponsor of a proposed 25% tax credit for protecting homes against wildfires.
Collection
[
|
...
]