WASHINGTON, D.C. – Today, Senator Rick Scott announced the reintroduction of the Homeowners Premium Tax Reduction Act to provide American homeowners an above-the-line deduction of up to $10,000 for premiums paid for homeowners’ insurance annually on their primary residence.

This legislation comes at the start of the 2025 hurricane season. Last week, Senator Scott traveled the state on a Hurricane Preparedness Tour to urge Floridians to take the necessary precautions to prepare for potential severe weather and ensure that all residents have the resources they need to prepare for, respond to, and recover from natural disasters. As part of the tour, Senator Scott visited Naples, Miami, Clearwater, Sanford, and Pensacola.

Senator Rick Scott said, “For many families, owning a home is part of the American dream and a sign of stability for their families. I talk to Florida families constantly who tell me how much they love living that dream in the great state of Florida, but that the cost of their homeowners insurance, while essential, can take a serious toll on their family’s budget. I grew up in a family that struggled to make ends meet with my mom working hard to keep a roof over our heads, and it is heartbreaking to hear that these rates are making the dream of homeownership unaffordable. While property insurance is managed on the state level, the federal government has the opportunity to lower costs for families by establishing an above-the-line federal tax deduction for homeowners insurance premiums. My Homeowners Premium Tax Reduction Act is a great opportunity to directly ease this burden and give families more breathing room in their budgets.”

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