Military and Federal Employee Protection Act

Senate Bill

S. 3043

119th Congress

Military and Federal Employee Protection Act

In Committee

Introduced:Oct 23, 2025

Primary Sponsor

Gary C. Peters

Senator

Democratic

MI

Cosponsors

1

Quick Stats

Policy Area

Taxation

Summary

The Natural Disaster Tax Relief Act of 2023 aims to provide financial assistance to individuals affected by major disasters in 2023. It allows penalty-free withdrawals from retirement accounts, lets people recontribute those funds for home purchases or construction, increases the limit on disaster-related retirement plan loans, and enhances the tax deduction for personal casualty losses.

Latest Action

Read twice and referred to the Committee on Finance.

SponsorGary C. Peters (D-MI)

Introduced10/23/2025

StatusRead twice and referred to the Committee on Appropriations.

ChamberSenate

Data from Congress.gov

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Vote Prediction

Military and Federal Employee Protection Act

The Natural Disaster Tax Relief Act of 2023 aims to provide financial assistance to individuals affected by major disasters in 2023. It allows penalty-free withdrawals from retirement accounts, lets people recontribute those funds for home purchases or constru

Community Breakdown

Pass

0%

Fail

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The Natural Disaster Tax Relief Act of 2023 aims to provide financial assistance to individuals affected by major disasters in 2023. It allows penalty-free withdrawals from retirement accounts, lets people recontribute those funds for home purchases or construction, increases the limit on disaster-related retirement plan loans, and enhances the tax deduction for personal casualty losses.

Bill Number: 3043
Sponsor: Gary C. Peters (D-MI)
Introduced: 10/23/2025
Status: Read twice and referred to the Committee on Appropriations.
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Military and Federal Employee Protection Act
Bill Number: 3043
Sponsor: Gary C. Peters (D-MI)
Status: Read twice and referred to the Committee on Appropriations.
Introduced: 10/23/2025
Summary: The Natural Disaster Tax Relief Act of 2023 aims to provide financial assistance to individuals affected by major disasters in 2023. It allows penalty-free withdrawals from retirement accounts, lets people recontribute those funds for home purchases or construction, increases the limit on disaster-r

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The Natural Disaster Tax Relief Act of 2023 aims to provide financial assistance to individuals affected by major disasters in 2023. It allows penalty-free withdrawals from retirement accounts, lets people recontribute those funds for home purchases or construction, increases the limit on disaster-related retirement plan loans, and enhances the tax deduction for personal casualty losses.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Natural Disaster Tax Relief Act of 2023 This bill sets forth tax relief provisions for individual taxpayers for losses resulting from a major disaster occurring in 2023. Specifically, the bill <ul> <li> allows penalty-free disaster-relief withdrawals from tax-exempt retirement plans up to $100,000, </li> <li>permits recontributions of such withdrawals for home purchases or construction cancelled due to the disaster,</li> <li> increases to $100,000 the limit on loans for disaster assistance from retirement plans, and </li> <li>enhances the tax deduction for disaster-related personal casualty losses.</li></ul>

Key Points

Main provisions of the bill

Allows penalty-free withdrawals of up to $100,000 from tax-exempt retirement plans for disaster relief
Permits recontributions of those withdrawals for cancelled home purchases or construction due to the disaster
Increases the limit on loans from retirement plans for disaster assistance to $100,000
Enhances the tax deduction for disaster-related personal casualty losses

How This Impacts Americans

Potential effects on citizens and communities

This bill would directly benefit individuals whose homes, businesses, or communities were impacted by major disasters in 2023. It would give them easier access to their retirement savings and more financial flexibility to recover and rebuild.

Policy Areas

Primary Policy Area

Taxation

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3043, 119th Congress (2025). "Military and Federal Employee Protection Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-3043

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