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119-s-3246119th CongressWALLET
Service Members Tax Relief Act
Sponsored By: Senator Ricketts, Pete [R-NE]
Introduced
Summary
Makes most active-duty and reserve military pay tax-free. This bill would add a new Internal Revenue Code section to exclude compensation received for service as an active or reserve member of the U.S. uniformed services from gross income. The exclusion would not apply to pension or retirement pay. The change would apply to taxable years beginning after the date of enactment.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Exclude military pay from taxable income
If enacted, you could exclude pay you received for active or reserve service from your federal taxable income. This exclusion would not apply to military pension or retirement pay. It would apply to income earned in tax years beginning after the date of enactment. For affected households, this would lower federal income tax for those years.
Sponsors & CoSponsors
Sponsor
Ricketts, Pete [R-NE]
NE • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov