H.R.5353 - War is Making You Poor Act111th Congress (2009-2010)
|Sponsor:||Rep. Grayson, Alan [D-FL-8] (Introduced 05/20/2010)|
|Committees:||House - Armed Services; Ways and Means|
|Latest Action:||05/24/2010 Sponsor introductory remarks on measure.|
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Subject — Policy Area:
- Armed Forces and National Security
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Summary: H.R.5353 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (05/20/2010)
War is Making You Poor Act - Limits amounts made available to the Department of Defense (DOD) in any appropriations Act for fiscal year 2011 that may be available for the base budget or for overseas contingency operations in Iraq, Afghanistan, or Pakistan.
Amends the Internal Revenue Code to allow individual taxpayers whose modified adjusted gross income is $35,000 or less ($70,000 for married couples) a tax credit (designated as the War is Making You Poor Tax Credit) equal to their net income tax liability for the first taxable year beginning in 2011.