Bill > ACR108

This joint resolution respectfully urges the United States Congress to pass legislation that would exempt military retirement pay from federal income taxation. The resolution recognizes that military personnel who serve 20 years or more on active duty in the Army, Navy, Air Force, or Marine Corps currently pay federal taxes on their retirement payments, despite making significant sacrifices during their military service. These sacrifices include extended periods away from family, foregoing potentially more lucrative civilian employment, and facing life-threatening dangers. The resolution highlights that military retirees face unique challenges after service, such as readjusting to civilian life, finding affordable housing, re-entering the job market, and potentially dealing with post-traumatic stress. Unlike veterans' pensions, which have different tax treatment, military retirement pay is currently taxable at the federal level. The resolution argues that in recognition of these service members' considerable contributions to the United States, they should be relieved from paying federal income tax on their military retirement pay. If passed, the resolution would direct the Clerk of the General Assembly to send copies of this resolution to every member of New Jersey's Congressional delegation.

Military Affairs and Security

https://www.njleg.state.nj.us/bill-search/2024/ACR108