House Resolution No. by Representative Firment calls on the United States Congress to enact legislation that would permit taxpayers to create tax-advantaged catastrophe savings accounts specifically for disaster-related expenses. The resolution highlights that states like Alabama, Georgia, Mississippi, and South Carolina already have provisions for such accounts, which allow taxpayers to make limited tax-deductible contributions to a designated savings account. These accounts are intended to cover insurance deductibles and uninsured losses from catastrophic events like floods and hurricanes, with tax-free withdrawals permitted for qualified disaster-related expenses.

The resolution emphasizes the increasing frequency and severity of weather-related disasters, underscoring the need for a nationwide catastrophe savings account program similar to health savings accounts. It notes that previous legislation proposing this type of savings account has been introduced in both the One Hundred Fifteenth and One Hundred Eighteenth United States Congress. The resolution concludes by directing that copies be sent to the presiding officers of Congress and the Louisiana congressional delegation to advocate for this initiative.