Read twice and referred to the Committee on Finance.
This bill amends the Internal Revenue Code to exclude from federal gross income all military retired or retainer pay and related benefits.
It explicitly excludes retired pay under titles 10 and 14 and certain disability, annuity, pension, and allowance payments under titles 10, 14, 37, and 38.
The bill makes conforming amendments (including repeal of 10 U.S.C. §1403 and technical changes to section 72) and applies to taxable years beginning after enactment.
Targeted, popular tax cut faces significant fiscal objections and lacks compromise features or offsets, lowering enactment probability.
Relative to its intended legislative type, this bill clearly states a substantive tax-policy change and implements that change by replacing and amending statutory text with an effective date and several conforming/clerical amendments. It partially integrates with existing law but contains drafting defects and omits fiscal, administrative, and oversight detail appropriate to a major tax exclusion.
Disagreement on fiscal cost and need for offsets
Disagreement on fiscal cost and need for offsets
Likely supportive of tax relief for veterans and disabled service members, but concerned about fairness and fiscal offsets.
Would favor targeted support, accountability for costs, and protections for low-income veterans.
Cautiously favorable to veteran tax relief but wants credible cost estimates and offsets.
Prefers narrowly tailored, administrable changes and clarity on interactions with other programs.
Strongly positive: income tax exclusion for military retirement aligns with pro-veteran, lower-tax principles.
Views the change as deserved relief and simplification.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Targeted, popular tax cut faces significant fiscal objections and lacks compromise features or offsets, lowering enactment probability.
The bill has not accumulated any surfaced votes yet.
Disagreement on fiscal cost and need for offsets
Targeted, popular tax cut faces significant fiscal objections and lacks compromise features or offsets, lowering enactment probability.
Relative to its intended legislative type, this bill clearly states a substantive tax-policy change and implements that change by replacing and amending statutory text with an effective date and several conforming/cleri…
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