The bill, H.R. 1093, seeks to amend the Internal Revenue Code of 1986. It aims to increase the dollar amount at which businesses must report payments related to natural disaster expenses from $600 to $5,000. This adjustment applies to expenses incurred to either reduce risks...
Simple Explanation
The bill wants to change the rules so businesses don't have to tell the government about small amounts of money they spend after big weather problems like hurricanes. Now, they only need to report when they spend a lot, which means more than $5,000, instead of smaller amounts like $600.