Bill > S3246

This bill aims to provide tax relief for active and reserve members of the Uniformed Services of the United States by amending the Internal Revenue Code of 1986. Specifically, the bill would exempt compensation earned by service members from being counted as taxable gross income during the tax year. The exemption applies only to active compensation and explicitly does not include pension or retirement pay. The new tax provision would be added as Section 139M to the existing tax code and would take effect for income earned in tax years beginning after the date the bill is enacted. By creating this tax exemption, the bill seeks to provide financial support and recognition for individuals serving in the United States military, acknowledging the unique sacrifices and challenges faced by active and reserve service members by allowing them to keep more of their earned income.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/3246/all-info