Savings for Servicemembers Act

Bill: 118-hr-5844
Sponsor: full_name: Rep. Kelly, Trent [R-MS-1]
Introduced: 2023-09-29
Policy area: Taxation
Latest action: action_date: 2023-09-29
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2023-09-29
action_desc: Introduced in House
text: <p> <strong>Savings for Servicemembers Act </strong></p> <p>This bill modifies the tax deduction for the travel expenses of members of a reserve component of the Armed Forces to decrease the distance from home requirement from 100 miles to 50 miles.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 5844 IN THE HOUSE OF REPRESENTATIVES September 29, 2023 Mr. Kelly of Mississippi (for himself and Mr. Kilmer ) introduced the following bill; which was referred to the Committee on Ways and Means 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, 2022.