Dianne Feinstein: “I rise in support of the Armed Forces Tax Fairness Act, S. 351. Whether we are at war, as is currently the case, or at…”

“I rise in support of the Armed Forces Tax Fairness Act, S. 351. Whether we are at war, as is currently the case, or at peace, members of the armed services should not be treated unfairly by the Tax Code as a result of their decision to serve our county. Inequities in the Tax Code that disadvantage men and women in uniform not only make it harder for them to support their families and themselves, but also threaten our own security by making it harder for the armed services to recruit talented service men and women. We have a responsibility to eliminate any disincentives to serving in the United States military, and this bill does much to fulfill that goal. The two most important provisions in this bill are relaxed rules on the treatment of capital gains on the sale of a home by military personnel, and an above-the-line deduction on travel expenses for members of the National Guard and Reserve. Anyone who has ever served in the military or grown up in a military family knows that frequent travel is a way of life for those in uniform.”