Sens. Ashley Moody and Rick Scott Introduce Bill to Provide Tax Relief for Skyrocketing Flood Insurance Costs

Jul 17, 2025
WASHINGTON, D.C.– Today, Senators Ashley Moody and Rick Scott introduced theFlood Insurance Relief Actto provide tax relief for Americans with a non-refundable tax deduction on flood insurance premiums paid through the National Flood Insurance Program (NFIP) or through private insurers. This bill will help ease the financial burden of rising flood insurance costs for hardworking Americans in Florida and across the nation. Congressman Byron Donalds is leading the companion legislation in the House of Representatives.
Senator Ashley Moodysaid, “As I travel around the Sunshine State, one thing folks continue to tell me is that they are worried about the rising cost of flood insurance. That is why today, Senator Scott and I are working to ease the financial burden on Florida families by proposing a bill that would create a tax deduction on their flood insurance premiums.The Flood Insurance Relief Actis a critical solution that will directly benefit Floridians.”
Senator Rick Scottsaid, “Floridians know well that flood insurance can be a crucial but costly asset, and it is unacceptable that many are left struggling to find flood insurance coverage they can afford. Families shouldn’t have to choose between protecting their homes and putting food on the table. I’ve been working onseveral billsto fix the broken NFIP system and encourage private-sector participation to allow for a more robust, affordable flood insurance market, but we must do more to help families ASAP. MyFlood Insurance Relief Actoffers a practical way to directly ease the financial burden of flood insurance for families by allowing a tax deduction on their premiums, whether through the NFIP or the private market. I’m glad to have my fellow Floridians Senator Ashley Moody and Congressman Byron Donalds joining me in leading this effort.”
Congressman Byron Donaldssaid, “For far too long, the rising cost of flood insurance has crushed hardworking Floridians. This is unacceptable, this must change, and this critical issue must be addressed to ensure our economy works for all Americans. The time for action is now, and I’m proud to join Senator Rick Scott in introducing theFlood Insurance Relief Actto provide this overdue relief to policyholders across our Southwest Florida community, the Sunshine State, and the nation.”

###

Copyright 2024