BNA Fairness Act

Hozzl · 2025-02-21T13:53:21Z

Explore the details of House Bill 715 BNA Fairness Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

2/21/2025, 1:53 PM

Summary of Bill HR 715

Bill 119 HR 715, also known as the Basic Needs Allowance for Members of the Armed Forces Act, aims to amend the Internal Revenue Code of 1986 to exclude the basic needs allowance of members of the Armed Forces from their gross income. This allowance is provided to military personnel to cover essential living expenses such as food, clothing, and housing.

The bill seeks to recognize the unique financial challenges faced by members of the Armed Forces and ensure that their basic needs allowance is not subject to taxation. By excluding this allowance from gross income, military personnel will be able to keep more of their hard-earned money and better provide for themselves and their families.

Supporters of the bill argue that it is a way to show appreciation for the sacrifices made by members of the Armed Forces and help alleviate some of the financial burdens they face. Critics, however, may raise concerns about the potential impact on tax revenue and the overall fairness of the tax system. Overall, Bill 119 HR 715 aims to provide much-needed financial relief to members of the Armed Forces by excluding their basic needs allowance from gross income, ultimately helping to improve their financial well-being.

Current Status of Bill HR 715

Bill HR 715 is currently in the status of Bill Introduced since January 23, 2025. Bill HR 715 was introduced during Congress 119 and was introduced to the House on January 23, 2025. Bill HR 715's most recent activity was Referred to the House Committee on Ways and Means. as of January 23, 2025

Bipartisan Support of Bill HR 715

Total Number of Sponsors

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Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 715

Primary Policy Focus

Alternate Title(s) of Bill HR 715

To amend the Internal Revenue Code of 1986 to exclude from gross income the basic needs allowance of members of the Armed Forces.To amend the Internal Revenue Code of 1986 to exclude from gross income the basic needs allowance of members of the Armed Forces.

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