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By Staff
Shelby legislation important to soldiers
U.S. Senators Richard C. Shelby (R-Ala) and Byron Dorgan (D-ND) introduced legislation this week that would ease the financial burden placed upon military reservists and their families. The Military Reserve Mobilization Income Security Act of 2005 will help alleviate the financial burden that activated reservists and their families bear by providing a completely refundable income tax credit of up to $20,000 annually to a military reservist on active duty.
The Shelby-Dorgan bill would enable reservists to be eligible for a refundable tax credit, not to exceed $20,000, which would be the difference between the reservist's civilian job salary and military wages paid upon mobilization. It will be available to members of the National Guard or Ready Reserve who are serving for more than 90 days.
As our military continues its valiant efforts to fight and win the global war on terror, our reservists are playing a more crucial and sustained role in military operations.
America owes a great deal to those who wear the uniform and serve in our military under the most difficult of circumstances. While we can never fully repay that debt, we can do much more to relieve the immediate financial burden that many National Guard and reserve families experience when a family member is ordered to active duty. This legislation will provide those families with much-needed and well-deserved financial assistance.