S. 35, titled the “Homeowners Premium Tax Reduction Act of 2025,” proposes changes to the Internal Revenue Code of 1986. It aims to allow individuals to deduct up to $10,000 of eligible homeowners insurance premiums annually from their taxable income, potentially lowering...
Simple Explanation
S. 35 is a bill that wants to help people pay less taxes by letting them subtract some money they spend on their house insurance from their income, so they owe less tax overall. It lets them save up to $10,000 a year, but doesn't cover extra insurances like flood or earthquake.