Coast Guard Combat-Injured Tax Fairness Act

12/15/2023, 4:06 PM

Coast Guard Combat-Injured Tax Fairness Act

This bill extends a tax benefit related to combat-related severance pay to veterans of the Coast Guard. Specifically, severance pay amounts that were withheld for tax purposes from veterans with combat-related injuries must be restored to veterans of the Coast Guard.

Congress
118
Number
S - 725
Introduced on
2023-03-08
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

3/8/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Coast Guard Combat-Injured Tax Fairness Act

This bill extends a tax benefit related to combat-related severance pay to veterans of the Coast Guard. Specifically, severance pay amounts that were withheld for tax purposes from veterans with combat-related injuries must be restored to veterans of the Coast Guard.

Alternative Names
Official Title as IntroducedA bill to amend the Combat-Injured Veterans Tax Fairness Act of 2016 to apply to members of the Coast Guard when the Coast Guard is not operating as a service in the Department of the Navy, and for other purposes.
Policy Areas
Armed Forces and National Security
Potential Impact
Coast guard•
Income tax exclusion•
Tax reform and tax simplification•
Veterans' pensions and compensation

Comments

Related

Bill Update Alert:  Coast Guard Combat-Injured Tax Fairness Act

Recent Activity

Latest Summary11/13/2023

Coast Guard Combat-Injured Tax Fairness Act

This bill extends a tax benefit related to combat-related severance pay to veterans of the Coast Guard. Specifically, severance pay amounts that were withheld for tax purposes from veteran...

Latest Action3/8/2023
Read twice and referred to the Committee on Finance.