Tax Clock Ticking

December 1, 2017

Republicans are relying on tax legislation to be the crowning achievement of the year. With just a handful of days left on the legislative calendar, the clock is ticking loudly as Congress tries to smooth out some differences.

The bill passed the House early in November and will be up for a vote in the Senate as soon as possible - very likely before you have a chance to read this. 

Though this legislation targets the entire American population, of which the military community is a relatively small piece, MOAA is keeping track of several provisions that could affect servicemembers in different ways than their civilian counterparts.

Tax Bill Trading


The list of our interests in the legislation doesn't end there. Also on the radar are mortgage interest rate deductions, qualified moving expense reimbursements, alimony payments, and more. Further, from a nonprofit standpoint, MOAA is concerned about charitable giving being affected by doubling the standard deduction and taxing nonprofits for licensing their names or logos.

MOAA's concern over these topics has been shared with key players responsible for constructing and pushing forward tax legislation on Capitol Hill. MOAA also participated in a White House discussion to dive in to some of these topics with respect to the military community. 

With the end of the legislative year in sight, time is tight for any last-minute changes. We can expect a very brief conference committee to smooth out the differences behind closed doors. A revised tax code might even be upon us within a month's time.


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