U.S. Rep. Lauren Underwood, D-Naperville, got her bill to provide tax relief to military survivors and families passed in the House of Representatives.
Her bill, the Setting Every Community Up for Retirement Enhancement Act (SECURE) aims to provide what Underwood called an urgently needed fix for those Americans facing tax increases under the Republican Tax Law.
“Our men and women in uniform should never fear that their children and loved ones will suffer if the worst should happen,” Underwood said. “I am proud to join my colleagues to repeal this devastating ‘kiddie tax’ provision and ensure that our military families know that the government will be there for them in the aftermath of their loss.”
That 2017 change to the country’s tax code also changed how children’s assets are taxed, increasing a surviving child’s tax burden, according to a news release from Underwood’s office. This requires military families to pay thousands of dollars more on survivor benefits, the release said.
The SECURE Act would fix that provision of the tax law for military survivors and families who have experienced what Underwood called unfair and unexpected tax raises.
Underwood’s bill would also make it easier for American workers to save for retirement, make it easier for small businesses to offer retirement plans to employees, allow longtime part-time workers to participate in a 401(k) savings plan and close loopholes in the tax code.