Hurricane Helene and Milton Tax Relief Act of 2025

This bill provides tax relief for people affected by Hurricanes Helene and Milton. It allows individuals to deduct up to 100% of their income for charitable donations to hurricane relief efforts, and corporations can deduct up to 20% of their income for such donations. People can claim these deductions even if they don't normally itemize their taxes. The bill also lets eligible individuals take up to $100,000 from their retirement accounts without the usual 10% penalty, spread that income over three years for tax purposes, and borrow more money from their retirement plans with longer repayment periods. Eligible individuals can also use their 2023 income to calculate their earned income tax credit for 2024 if it helps them.

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