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Senate considers East Palestine derailment tax relief after House passage
The U.S. Senate will consider a bill that would waive federal taxes on railroad payments for victims of the February 3, 2023, Norfolk Southern derailment in East Palestine.
Thursday, May 23rd 2024, 8:32 AM EDT
Updated:
The U.S. Senate will consider a bill that would waive federal taxes on railroad payments for victims of the February 3, 2023, Norfolk Southern derailment in East Palestine.
With bipartisan support, the House passed the Federal Disaster Tax Relief Act of 2023 on Tuesday.
If voted into law, the legislation would exempt Norfolk Southern Railroad’s payments to residents impacted by the East Palestine train derailment from federal taxes.
The bill also includes provisions that would grant tax exemptions for victims of wildfires, and certain hurricanes.
The bill has been read twice in the Senate and referred to the Committee on Finance.