washingtonscene
Defense Bill
rejected repeated Pentagon proposals to (married, fi ling jointly). This tax credit
Schedule
double or triple TRICARE fees for retir- would be calculated at 6.2 percent of
ees under age 65 and increase pharmacy earned income, up to the capped amount.
a73 When a new president
takes office, defense bill
copayments for all benefi ciaries who pur- The credit would phase out for taxpay-
action typically is delayed
chase medications through TRICARE’s ers with adjusted gross incomes above
while the new administra- retail or mail-order pharmacy systems. $75,000 (single) or $150,000 (married,
tion drafts a budget.
“I hope the new administration will fi ling jointly).
April: budget to Congress
not request the same premium increases Special payment: Social Security an-
mid-May: committees
draft defense bills
as the last, but this legislation will allow nuitants, disabled veterans, and certain
June-July: House and
us to remove any temptation,” Edwards others would be eligible for a one-time
Senate pass bills
said when announcing the newly rein- $250 payment. Anyone who is eligible
July-September: Hill troduced bill. “We cannot attract the best for this payment and also eligible for
leaders resolve bill
and brightest to fi ght our war on terrorism the federal income tax rebate previously
differences
October: new fiscal
in the years ahead if they see us breaking mentioned would have the $250 deduct-
year begins
faith with those who served in years past,” ed from the latter in determining end-of-
he said. year tax liability.
“This legislation is about offering pro- Military Homeowner Assistance Pro-
tection for the men and women who are gram (HAP): HAP benefi ts (normally
willing to protect our nation from its en- payable only at base realignment and clo-
emies and keeping promises to those who sure locations) are extended to certain
have promised to put themselves in harm’s military homeowners who bought homes
way when called upon,” Jones agreed. before July 1, 2006, and who sell their
“The families of our armed forces deserve homes before Sept. 30, 2012. To qualify,
consistent health care benefi ts.” a servicemember must have received
MOAA and The Military Coalition permanent-change-of-station orders
strongly endorse H.R. 816 and are most or incurred a service-caused condition
grateful to these two champions for their during deployment that caused disabil-
continued leadership. ity retirement. The government may
reimburse the homeowner for a loss on
The Stimulus
the sale up to 95 percent of the original
value or purchase the home for up to 90
and You
percent of the original value. DoD deter-
mines market values.
Help is on the way for
Education tax credit: Taxpayers with
homeowners in the military.
college education expenses would receive
a tax credit of up to $2,500 for the cost of
tuition, books, and related expenses dur-
T
he $787-billion stimulus pack- ing 2009 and 2010. The credit would apply
age signed into law in mid-Febru- to 100 percent of the fi rst $2,000 spent
ary includes funding for a variety and 25 percent of the next $2,000. The
of initiatives that will affect the military credit would phase out for taxpayers with
community in one way or another. Here’s a adjusted gross incomes above $80,000
summary of selected provisions: (single) or $160,000 (married).
Federal income tax rebate: Working Vehicle sales tax deduction: Taxpayers
employees (including those who are purchasing a new car, light truck, RV, or
self-employed) would see a reduction motorcycle in 2009 will be able to deduct
in federal income tax withholding and state and local sales and excise taxes
liability of up to $400 (single) or $800 paid on the vehicle. The deduction will
3 4 M I L I T A R Y O F F I C E R A P R I L 2 0 0 9
AApr_scene.indd
34pr_scene.indd 34 33/5/09 5:01:31 PM/5/09 5:01:31 PM
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80