Rep. Bacon Co-Leads Effort to Reduce the Tax on Benefits for Gold Star Families
Washington, D.C. - Today, Congressman Bacon (NE-02) joined his colleagues in introducing bi-partisan legislation to reduce the tax on benefits paid to survivors of deceased service members. Over the last month, Rep. Bacon heard from Gold Star families who have received higher tax bills due to the recent simplification of the tax code. Upon learning of impacts to these military families, Rep. Bacon immediately engaged with his colleagues on the Ways and Means Committee and the newly formed For Country Caucus to correct this oversight. This week he joins several Republicans and Democrats as original co-sponsors of bi-partisan legislation to retroactively exclude these survivor benefits from recent changes to the tax code.
“As a strong supporter of our Gold Star families, I know how important these benefits are and how harmful the unintended consequences of recent changes in the tax code were,” said Rep. Bacon. “I want to thank Representative Brady and my colleagues on both sides of the aisle for supporting H.R. 2481. This bi-partisan teamwork is what America expects from Congress and I am proud of my colleagues for coming together to take care of our military families who paid the ultimate price for our freedom.”
H.R. 2481 excludes benefits paid to the children of deceased service members and veterans from being taxed at the same rate as income received from trust funds and investments. Congressman Bacon is co-chair and a founding member of the For Country Caucus, a congressional member organization comprised of veterans of the armed forces committed to bi-partisanship, integrity, civility and courage in service to the nation.