This bill authorizes the President to waive the general prohibition against duplicating benefits under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. This waiver can be requested by a Governor on behalf of a State, person, business, or other entity that has suffered losses due to a major disaster or emergency. The President must determine that granting the waiver is in the public interest and will not lead to waste, fraud, or abuse. When considering a waiver request, the President may take into account recommendations from the Federal Emergency Management Agency Administrator, the cost-effectiveness of the assistance, and principles of equity and good conscience . Importantly, the bill specifies that a loan cannot be deemed a duplication of assistance if all federal aid is applied to a loss resulting from the disaster. Furthermore, no income threshold may be used to limit a recipient's eligibility for such a waiver. The President is required to grant or deny a waiver request within 45 days, and these provisions apply to disasters declared in calendar years 2023 or 2024.