(Washington, DC) – U.S. Senator David Vitter (R-La.) today introduced the bipartisan National Disaster Relief Tax Act along with Senators Bill Cassidy (R-La.), Chuck Schumer (D-NY), and others. Vitter’s legislation would provide tax relief for disaster victims from 2012 through 2015, including the recent Red River flooding in northwest Louisiana and areas impacted by Hurricane Isaac from 2012.

“Folks across Louisiana know all too well the damage that serious flooding can cause. Just this past month, communities along the Red River suffered severe damage as a result of recent flooding,” Vitter said. “Our legislation will ensure that folks get the assistance they need when disasters strike.”

“This provides tax relief to families and businesses in Parishes affected by the Red River flooding and in communities across the country that have experienced disasters in recent years. Working with Senator Vitter and others, we must continue pushing for resources to help our communities recover when they need it most,” said Cassidy.

The National Disaster Relief Tax Act will also allow businesses to create natural disaster funds in order to prepare for disaster costs, including insurance. The legislation also ensures the permanency of 12 items in order to help disaster victim in real time, without having to wait for passing new legislation.

Cosponsors of the National Disaster Relief Tax Act include Senators Chuck Schumer (D-N.Y.), Bill Cassidy (R-La.), Shelley Moore Capito (R-W.V.), Joe Manchin (D-W.V), Michael Bennet (D-Co.), Cory Booker (D-N.J.), Kirsten Gillibrand (D-N.Y.) and Bob Menendez (D-N.J.).

Congressman Tom Reed (R-NY) has introduced the House version, with Congressman Bill Pascrell (D-N.J.) and other bipartisan cosponsors.

Earlier this week Vitter announced that the Louisiana parishes most directly impacted by the Red River flooding are eligible for Public Assistance after the President made a Disaster Declaration. Read more here.