Military Pension Protection Act
Sponsored By: Representative Van Drew, Jefferson [R-NJ-2]
Introduced
Summary
Excludes military pensions from taxable income. This bill would change the Internal Revenue Code to treat any pension or annuity paid by the Federal Government for service as a member of the Armed Forces as nontaxable income. That exclusion would apply whether the payment goes to the service member or to a beneficiary. The bill adds a new Section 113 to the tax code and would take effect for tax years beginning after enactment.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Lower federal taxes for military retirees
This bill would let you exclude from federal taxable income any pension or annuity from federal military service. The exclusion would apply whether the payment goes to the member or to a beneficiary. If enacted, it would apply to taxable years beginning after the date of enactment. Your taxable income would drop by the excluded amount, lowering your federal income tax roughly by that amount times your marginal tax rate each year.
Sponsors & CoSponsors
Sponsor
Van Drew, Jefferson [R-NJ-2]
NJ • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov