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Tax Relief for Military Families |
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May 20, 2008
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"Last fall I introduced the Active Duty Military Tax Relief Act to assist our brave men and women in uniform who are serving our country with honor and distinction, and I am pleased that significant provisions proposed in my bill are incorporated in their entirety into the bill we are discussing today, the bipartisan HEART Act.
"Servicemembers are often confronted with transitional issues when called to duty, and the bill we are debating today includes provisions from my bill making essential tax relief for our military families permanent by providing incentives to ensure that Reservists who are called up for active duty do not suffer a pay cut. This bill also makes it easier for veterans to become homeowners, and it includes other provisions from my bill allowing recipients of the military death benefit gratuities to make contributions of up to $100,000 into tax-favored accounts, such as Roth IRAs and Education Savings Accounts.
"We spend a lot of time in this Congress talking about supporting our troops, and we are providing further evidence today that we are going to support our troops with our actions and not just our words. The HEART Act is another sign of our commitment to our Nation's heroes, and I encourage all of my colleagues to support this bill."
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