The bill would exclude regular compensation for active service in the Armed Forces from federal gross income. The exclusion would not apply to compensation received by someone who served as a Member of Congress at any time in the prior 10 years. The change would apply to tax years beginning after December 31, 2024. The bill also directs the United States DOGE Service to reduce federal spending by at least the amount of revenue lost because of the tax change.
If you receive regular compensation for active service in the Armed Forces, this bill would exclude that compensation from federal gross income, unless you served as a Member of Congress at any time in the 10 years before receiving it. The bill directs Treasury to update tax withholding procedures to reflect the exclusion.
The bill does not state a dollar amount for the revenue reduction or required spending cuts. It directs the United States DOGE Service to reduce federal spending by at least as much as the revenue reduction caused by the tax change.
No publicly available information.
No publicly available information.