Washington – Today, Rep. Mike Thompson (CA-04) and Rep. Doug LaMalfa (CA-01) announced that their bipartisan bill to make settlements from the PG&E Fire Victims Trust nontaxable passed out of the Ways and Means Committee by a vote of 38-0.
“No wildfire survivors should be made to pay taxes on a settlement payment that does not even cover the full loss they experienced,” said Thompson. “Today, the Ways and Means Committee passed my bill to exempt PG&E Fire Victims Trust settlements from taxes, moving us one step closer to providing essential tax relief to fire survivors. This bill remains my top priority and I will continue to move it forward until President Biden signs it into law.”
“This legislation is critical for disaster survivors throughout the nation, from hurricane survivors in Florida to Fire Victim Trust claimants in Northern California. Wildfire survivors have waited far too long with this cloud of uncertainty over their heads, not knowing if their settlement money will be taxed. This initiative has been a top priority for my office and it has gathered broad bipartisan support. I am hopeful that Congress will quickly enact this bill into law so that wildfire survivors can have financial certainty,” said LaMalfa.