[Vision2020] Fw: VETERANS EARN TAX RELIEF FOR HOMES, RETIREMENT

[lfalen]

-----Original message-----

From: "Crapo News Release (Crapo)" newsclips at crapo.senate.gov
Date: Fri, 23 May 2008 10:08:41 -0700
To: 
Subject: VETERANS EARN TAX RELIEF FOR HOMES, RETIREMENT

 

FOR IMMEDIATE RELEASE
CONTACT:    Susan Wheeler (202) 224-5150

May 23, 2008
Lindsay Nothern (208) 344-1108

 

 

 

VETERANS EARN TAX RELIEF FOR HOMES, RETIREMENT 


Crapo, Senate approve new tax changes for military, families, employers


 

Washington, DC - Idaho Senator Mike Crapo joined with the full Senate to
approve new tax relief for members of the U.S. military, their families
and their employers.  The Heroes Earnings Assistance and Relief Act
(HEART) was approved by unanimous consent and is expected to be signed
into law by the President.  The U.S. House of Representatives has
already approved the measure.  Crapo co-sponsored the Senate version of
the bill.  

 

"This legislation will make it easier for members of the military to
purchase a home and save for retirement," noted Crapo, a member of the
Senate Finance Committee which earlier approved a similar tax relief
package.  "The legislation will also make it easier for employers of
veterans to keep their jobs open if the individual is called back to
active duty."

 

The HEART Act provides for several tax credits and incentives for both
active duty military and their families.  Among the benefits are a
refundable federal income tax credit that assists lower-income families,
language clarifying that all active duty personnel are eligible for
economic stimulus payments, the ability to withdraw retirement funds
tax-free for a two-year period and a permanent allowance for all
veterans to use qualified mortgage bonds to purchase their homes.

 

 

 

 

To directly link to this news release, please use the following address:


http://crapo.senate.gov/media/newsreleases/release_full.cfm?id=298355

 

 

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Date: Fri, 23 May 2008 13:08:41 -0400
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