Washington, D.C. - A week after Congressman Kevin Brady (R-Texas) and Congressman Al Green introduced the Hurricane Ike Tax Relief bill, the U.S. House of Representatives passes the Disaster Tax Relief Act of 2008 as well as additional disaster funding that will bring $22.86 Billion in much needed aid to Texans hit hard by Hurricane Ike.

“With so many homes and businesses wiped out by Ike, I'm thrilled this legislation has come together so quickly,” said Brady. “There is more work to be done to recover from this tragedy but this is a great first step in reaching our goal.”

The Disaster Tax Relief Act of 2008 is a series of tax deduction, exemption and credit provisions that will apply to all federally-declared disaster occurring during 2008-2011. Taxpayers will get immediate tax write-offs for certain disaster clean-up related business expenses, allocations for additional low income housing tax credits, and an increase in standard mileage rate for charitable use.

Brady added, “These programs will be the backbone to rebuilding our communities, and our tax package will help to bring businesses up to speed and back into the market to get their communities thriving again.”

The $22.86 billion in recovery aid to victims of federally declared disasters was included in the Continuing Resolution Congress passed today to fund the federal government until March of next year. This funding will be used to help FEMA, the Corps of Engineers, and the Community Development Block Grant program assist Texans with everything from debris removal, temporary housing and rebuilding, to hurricane-related repairs to the Sabine-Neches waterway, Sam Rayburn Reservoir and the Town Bluff Dam at Steinhagen Lake.