[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]
[infowar.de] A washingtonpost.com article from: da.denzaman@gmx.de
Infowar.de, http://userpage.fu-berlin.de/~bendrath/liste.html
-------------------------------------------------------------
You have been sent this message from da -
denzaman -!
- gmx -
de as a courtesy of th=
e Washington Post - http://www.washingtonpost.com=20
=20
Gru=DF Ren=E9 Denzer
=20
To view the entire article, go to http://www.washingtonpost.com/wp-dyn/art=
icles/A37946-2003Mar27.html
=20
Senate OKs Tax Break for Troops
=20
By Jim Abrams Legislation to ease tax burdens for military personnel and t=
heir families won unanimous Senate support Thursday, with senators determin=
ed to show their gratitude to the service men and women risking their lives=
in Iraq.
=20
"One of the best ways we can support our troops is to do everything we=
can to assure that they and their families are taken care of," said Sen. M=
ax Baucus of Montana, top Democrat on the Senate Finance Committee.
=20
The legislation, passed 97-0, excludes military death benefits from ta=
xable income, allows reservists and National Guard to deduct travel expense=
s related to their service, and assures that service members forced to make=
frequent moves won't be subject to capital gains taxes on the sales of the=
ir homes.
=20
The vote came as Congress considered a $74.7 billion request from the =
White House to help finance the conflict in Iraq and the war against terror=
ism.
=20
The military tax relief legislation, while non-controversial, stalled =
in the last session of Congress when it was linked to other tax legislation=
. It gained new momentum when war began with Iraq. It's an opportunity, sai=
d Finance Committee Chairman Charles Grassley, R-Iowa, "to show support for=
our men and women in uniform in faraway places like Iraq."
=20
The House, after separating the military tax breaks from a package of =
other tax-related measures, passed a similar version last week with a 422-0=
vote. The two sides must still reconcile their differences before sending =
a bill to the president.
=20
The Senate version gives income tax relief to families of the astronau=
ts killed in the Columbia space shuttle disaster. The House has taken simil=
ar steps in a different bill.
=20
Among other differences, the House limits above-the-line deductions -=
- available whether or not taxpayers itemize deductions -- to cover out-=
of-pocket expenses for reservists traveling to training at $1,500. The Sena=
te has no such limit. "Our service men and women should not be put in the p=
osition of subsidizing their own training," Sen. Mike DeWine, R-Ohio, said.
=20
The Senate bill also anticipates recouping some $700 million over 10 y=
ears by enacting new restrictions on people who renounce their U.S. citizen=
ship to avoid paying taxes. The House, in a separate bill, moves to toughen=
current enforcement against such tax dodgers, which Baucus said would brin=
g in less than half the revenue.
=20
Both bills, with minor differences, make tax-free the $6,000 burial be=
nefit paid to families of soldiers killed in action. Congress doubled the b=
enefit during the first Gulf War in 1991, but half of that is still subject=
to taxes.
=20
---------------------------------------------------------------
Liste verlassen:
Mail an infowar -
de-request -!
- infopeace -
de mit "unsubscribe" im Text.