Staff Report From Georgia CEO, Wednesday, May 15th, 2019
U.S. Senator Johnny Isakson, R-Ga., chairman of the Senate Committee on Veterans’ Affairs, joined a bipartisan group of 28 senators to introduce legislation that would provide tax relief for families of deceased military service members. This bill will address an unintended consequence of the new tax reform law that contributed to higher taxes on military survivor benefits.
“When Congress sought to ensure that the tax code retained existing benefits for children who have lost a parent serving in the military, an unintended consequence resulted in higher taxes on the death-related benefits to military families. We must fix this issue without delay,” said Isakson. “The Tax Cuts and Jobs Act has been an overwhelming success for hardworking Americans. As a member of the Senate Finance Committee, which oversees tax policy, as well as the chairman of the Veterans’ Affairs Committee, I’m proud to support this legislation to correct an oversight for our Gold Star families.”
The Gold Star Family Tax Relief Act, S.1370, was led by U.S. Senators Bill Cassidy, R-La., Doug Jones, D-Ala., Pat Toomey, R-Pa., Mark Warner, D-Va., Chuck Grassley, R-Iowa, Ron Wyden, D-Ore., Amy Klobuchar, D-Minn., and Angus King, I-Maine. In addition to Isakson, it was cosponsored by Sens. Tammy Baldwin, D-Wis., Michael Bennet, D-Colo., Richard Blumenthal, D-Conn., Sherrod Brown, D-Ohio, Richard Burr, R-N.C., Bob Casey, D-Pa., Catherine Cortez Masto, D-Nev., Mike Crapo, R-Idaho, John Cornyn, R-Texas, Tom Cotton, R-Ark., Steve Daines, R-Mont., Maggie Hassan, D-N.H., Ron Johnson, R-Wis., Bob Menendez, D-N.J., Patty Murray, D-Wash., Gary Peters, D-Mich., Pat Roberts, R-Kan., Tim Scott, R-S.C., Kyrsten Sinema, D-Ariz., and Jon Tester, D-Mont