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Post details: Senate Sends Military Tax Bill to White House
05/27/08
Senate Sends Military Tax Bill to White House
CCH (cch.taxgroup.com) reports:
Senate lawmakers voted unanimously to approve the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008 (HR 6081) on May 22. The Bush administration supports the bipartisan legislation, which would enable thousands of active-duty military families to qualify for economic stimulus payments. Senate Finance Committee Chairman Max Baucus, D-Mont., and ranking member Charles E. Grassley, R-Iowa, said the bill will provide more than $1.2 billion in tax relief to benefit America's veterans and soldiers.
The legislation, which the House approved on May 19, includes tax cuts for members of the military who are receiving combat pay, saving for retirement or purchasing their own homes. "People shouldn't suffer a tax hit to serve our country. We need to make sure military men and women have fair treatment under the tax code. It's a no-brainer," Grassley said.
By Stephen K. Cooper, CCH News Staff
SFC Release: Baucus, Grassley Win Passage of Tax Relief for Military Families, Veterans
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