
Congress is moving ahead with a bill that would exempt those who get settlements after a federally declared disaster from income tax. The bill builds on a measure that retroactively exempted those payment for disasters in 2017, 18, and 19. Congressman Mike Thompson says the bill will make sure those who already suffered a devastating loss aren’t hit with a tax on top of it. The bill has passed the House Ways and Means Committee and goes on to the full House for a vote.