Austin News

U.S. Senator Ted Cruz and Representative Ronny Jackson, both from Texas, have reintroduced the Wildfire Victim Tax Relief and Recovery Act in Washington, D.C. This legislation aims to offer tax relief to those who experienced significant losses due to wildfires that ravaged the Panhandle last year. The fires consumed 1.2 million acres, resulting in destroyed homes and the death of thousands of cattle.

Senator Cruz emphasized the impact of these wildfires, stating, "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."

Representative Jackson highlighted the lasting effects on local communities: "The historic wildfires that tore through the Texas Panhandle last year have 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."

The proposed bill includes provisions such as exempting government relief payments and settlement payments from Xcel Energy from income taxes. It also provides tax relief for producers compelled to sell livestock due to the fires.