Savings for Servicemembers Act

Bill: 115-s-673
Sponsor: full_name: Sen. Klobuchar, Amy [D-MN]
Introduced: 2017-03-21
Policy area: Taxation
Subjects: Income tax deductions

Military personnel and dependents

National Guard and reserves

Transportation costs
Latest action: action_date: 2017-03-21
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2017-03-21
action_desc: Introduced in Senate
text: <p><b>Savings for Servicemembers Act </b></p> <p>This bill amends the Internal Revenue Code to reduce from 100 miles to 50 miles the distance from home requirement for the tax deduction for the travel expenses of a member of a reserve component of the Armed Forces. </p>

tv_txt: II 115th CONGRESS 1st Session S. 673 IN THE SENATE OF THE UNITED STATES March 21, 2017 Ms. Klobuchar (for herself, Mr. Tillis , Mr. Van Hollen , Mr. Markey , Mr. Kaine , Mrs. Gillibrand , and Ms. Warren ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to decrease the distance away from home required for a member of a reserve component of the Armed Forces to be eligible for the above-the-line deduction for travel expenses.

1. Short title This Act may be cited as the Savings for Servicemembers Act . 2. Decrease in required distance away from home for above-the-line deduction for travel expenses of members of a reserve component of the Armed Forces (a) In general Section 62(a)(2)(E) of the Internal Revenue Code of 1986 is amended by striking 100 miles and inserting 50 miles . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2016.