Savings for Ser­vice­mem­bers Act

Bill: 116-s-837
Sponsor: full_name: Sen. Klobuchar, Amy [D-MN]
Introduced: 2019-03-14
Policy area: Taxation
Subjects: Income tax deductions

Military personnel and dependents

National Guard and reserves

Transportation costs
Latest action: action_date: 2019-03-14
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2019-03-14
action_desc: Introduced in Senate
text: <p><b>Savings for Servicemembers Act </b></p> <p>This bill reduces from 100 miles to 50 miles 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 tax deduction for travel expenses. (Above-the-line tax deductions are subtracted from gross income to arrive at adjusted gross income.)</p>

tv_txt: II 116th CONGRESS 1st Session S. 837 IN THE SENATE OF THE UNITED STATES March 14, 2019 Ms. Klobuchar (for herself and Mr. Tillis ) 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, 2018.