LITTLE ROCK, Ark. (KTHV) - U.S. Congressman Tim Griffin introduced the Mayflower Oil Spill Tax Relief Act (H.R. 2724) in Washington.
The act will prevent compensation provided by ExxonMobil to Mayflower residents from being taxable by classifying it as "a qualified disaster relief payment" under current law.
Griffin said in a statement Monday, "The oil spill in Mayflower has been a difficult ordeal for many families. Their lives were turned upside down and many were impacted financially. Those affected by this nightmare deserve to be compensated fully and fairly, but the IRS plans to tax them on it. That's not right, and I've urged ExxonMobil to cover those costs. But to ensure these families won't have to pay the IRS on the disaster relief they receive, I've introduced the Mayflower Oil Spill Tax Relief Act. These families didn't ask for this spill, and they shouldn't be forced to pay the IRS more because of it."
Reps. Rick Crawford (AR-01), Steve Womack (AR-03), and Tom Cotton (AR-04) are cosponsors of the legislation.