The bill would exclude compensation earned for service as an active or reserve member of the U.S. Uniformed Services from federal gross income. It would not exclude pension or retirement pay. The change would apply to income earned in tax years beginning after the bill becomes law.
If enacted, qualifying compensation for active or reserve service would not be counted as gross income for federal income tax purposes. Pension and retirement pay would remain outside this exclusion.
No publicly available information on estimated costs or revenue effects.
No publicly available information.
No publicly available information.