Senator Rick Scott Pushes Legislation to Provide Tax Break for Homeowners

Florida Senator Rick Scott is pushing legislation to provide a tax break for homeowners.

Republican U.S. 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.

“For many families, owning a home is part of the American dream and a sign of stability for their families,” Senator Rick Scott said. “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.”

This legislation comes at the start of the 2025 hurricane season. Senator Scott recently 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 Rick Scott visited Naples, Miami, Clearwater, Sanford, and Pensacola.

“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,” Senator Scott continued. “My Homeowners Premium Tax Reduction Act is a great opportunity to directly ease this burden and give families more breathing room in their budgets.”

The legislation from Florida Senator Rick Scott to amend the Internal Revenue Code of 1986 to create an above the line deduction for certain homeowners insurance premiums and to provide a tax break for homeowners can be viewed online.