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Congress Passes Aviation, Hurricane Tax Bill

Aid has been approved by the House and the Seante, the measure now goes to President Donald Trump’s desk to sign.

President Trump’s with congressional Democratic leaders Nancy Pelosi (left) and Chuck Schumer (center).

Congress has passed a bill to prevent a shutdown of federal aviation programs and provide tax relief to hurricane victims.

The measure now goes to President Donald Trump to sign. The bill extends the operating authority of the Federal Aviation Administration through March. If Congress had not acted, the agency would have been forced to partially shut down on Saturday, the last day of the federal budget year.

The bill also includes five tax provisions for hurricane victims. One would allow them to withdraw money from 401(k) or other retirement accounts without penalty for storm-related expenses.

The House initially passed the bill with provisions that would have expanded the private flood insurance market. The Senate stripped out those provisions and sent it back to the House, which passed it again.

 

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