S. 516Senate110th Congress (2007-2009)In Committee

TRAC Act

A bill to amend the Internal Revenue Code of 1986 to make permanent the option of including combat pay when computing earned income.

Also known as Tax Relief for Americans in Combat Act

Introduced February 7, 2007

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

February 7, 2007

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SenateIntro Referral

Introduced in Senate

February 7, 2007

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S1714)

February 7, 2007

SenateIntro Referral

Read twice and referred to the Committee on Finance.

February 7, 2007

Floor Debate

8 members

What members said about S. 516 on the floor

3 Republicans5 Democrats
John McCain
Sen. John McCainR-AZ · Feb 7, 2007

Mr. President, I am pleased to be joined today by Senator Schumer in introducing the Securing Adolescents From Exploitation- Online Act of 2007, otherwise known as the SAFE Act. This bill would…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Feb 7, 2007

Mr. President, last year, Congress quietly made it easier for this President or any President to declare martial law. That's right: In legislation added at the Administration's request to last year's…

Patty Murray
Sen. Patty MurrayD-WA · Feb 7, 2007

Mr. President, I rise today to reintroduce the Wild Sky Wilderness Act, a bill to protect some of Washington's most unique and remarkable public lands for families today and for future generations.…

Mark L. Pryor
Sen. Mark L. PryorD-AR · Feb 7, 2007

Mr. President, I rise today to urge my colleagues to make the Tax Relief for Americans in Combat Act permanent. This measure corrects a discrepancy in the Tax Code that penalizes certain service men…

Mark L. Pryor
Sen. Mark L. PryorD-AR · Feb 7, 2007

Mr. President, I rise today to urge my colleagues to make the Tax Relief for Americans in Combat Act permanent. This measure corrects a discrepancy in the Tax Code that penalizes certain service men…

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Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Feb 7, 2007

Mr. President, I rise today to introduce legislation to give rights to student borrowers. The Student Borrower Bill of Rights Act will provide student borrowers with five basic rights to protect them…

Chuck Grassley
Sen. Chuck GrassleyR-IA · Feb 7, 2007

Mr. President, I am introducing the Pigford Claims Remedy Act of 2007. This bill establishes a new cause of action for those African-American farmers who filed late claim petitions as required by the…

Barbara Boxer
Sen. Barbara BoxerD-CA · Feb 7, 2007

Mr. President, I rise today to introduce the ``Urban Area Security Initiative Improvement Act,'' which addresses eligibility for the Department of Homeland Security's Urban Area Security Initiative…

Orrin G. Hatch
Sen. Orrin G. HatchR-UT · Feb 7, 2007

Mr. President, not long ago, Utahns suffered a long and devastating drought, from which we have not fully recovered. The drought has instilled in us the need to plan for the future and ensure sound…

Bill Text

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Introduced in SenateIssued February 7, 2007

II

110th CONGRESS

1st Session

S. 516

IN THE SENATE OF THE UNITED STATES

February 7, 2007

Mr. Pryor (for himself, Mr. Warner, and Mrs. Lincoln) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to make permanent the option of including combat pay when computing earned income.

1.

Short title

This Act may be cited as the Tax Relief for Americans in Combat Act or the TRAC Act.

2.

Earned income includes combat pay

(a)

Earned income credit

Clause (vi) of section 32(c)(2)(B) of the Internal Revenue Code of 1986 is amended to read as follows:

(vi)

a taxpayer may elect to treat amounts excluded from gross income by reason of section 112 as earned income.

.

(b)

Repeal of EGTRRA sunset applicability

Section 105 of the Working Families Tax Relief Act of 2004 shall not apply to the amendments made by section 104(b) of such Act.

(c)

Effective date

The amendment made by subsection (a) shall apply to taxable years ending after December 31, 2006.