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Coast Guard Combat-Injured Tax Fairness Act

12/15/2023, 4:06 PM

Congressional Summary of S 725

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.

Current Status of Bill S 725

Bill S 725 is currently in the status of Bill Introduced since March 8, 2023. Bill S 725 was introduced during Congress 118 and was introduced to the Senate on March 8, 2023.  Bill S 725's most recent activity was Read twice and referred to the Committee on Finance. as of March 8, 2023

Bipartisan Support of Bill S 725

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 725

Primary Policy Focus

Armed Forces and National Security

Potential Impact Areas

- Coast guard
- Income tax exclusion
- Tax reform and tax simplification
- Veterans' pensions and compensation

Alternate Title(s) of Bill S 725

Coast Guard Combat-Injured Tax Fairness Act
Coast Guard Combat-Injured Tax Fairness Act
A 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.

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