The Midwestern Disaster Tax Relief Act of 2008 ( S. 3322 / H.R. 6587 ), introduced by Senator Grassley and Representative Loebsack, provides temporary tax relief intended to assist with the recovery from the severe storms, tornadoes, and flooding that occurred during the summer of 2008 in the Midwest. The Jobs, Energy, Families, and Disaster Relief Act of 2008 ( S. 3335 ), introduced by Senator Baucus, contains some temporary tax provisions intended to assist in disaster recovery generally. S. 3335 has fewer relief provisions than S. 3322 / H.R. 6587 , accounting for the differences that are due to the fact that S. 3335 is not limited to the Midwest disaster. The Baucus bill has no similar provision.
The Midwestern Disaster Tax Relief Act of 2008 (S. 3322 and H.R. 6587) is intended to assist with the recovery from the severe weather that affected the Midwest during the summer of 2008. The Jobs, Energy, Families, and Disaster Relief Act of 2008 (S. 3335) includes some similar provisions, but these are not limited to the Midwest disaster. The disaster relief in the three bills is similar to that provided to assist with the recovery from the 2005 hurricanes and the 2007 Kansas tornadoes. This report broadly discusses the disaster relief provisions in S. 3322/H.R. 6587 and S. 3335.