[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5353 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5353

     To reduce the $159.3 billion from the discretionary overseas 
contingency operations funds in the President's fiscal year 2011 budget 
 for operations in Iraq, Afghanistan, and Pakistan (without preventing 
use of mandatory funds from the Department of Defense budget to execute 
  the War on Terror), and amend the Internal Revenue Code of 1986 to 
provide individuals a ``War is Making You Poor'' tax credit against the 
 savings attributable to the overseas contingency operations reduction.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 20, 2010

 Mr. Grayson (for himself, Mr. Kucinich, Ms. Woolsey, Mr. Conyers, Ms. 
 Lee of California, Mr. Paul, and Mr. Jones) introduced the following 
  bill; which was referred to the Committee on Armed Services, and in 
    addition to the Committee on Ways and Means, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL


 
     To reduce the $159.3 billion from the discretionary overseas 
contingency operations funds in the President's fiscal year 2011 budget 
 for operations in Iraq, Afghanistan, and Pakistan (without preventing 
use of mandatory funds from the Department of Defense budget to execute 
  the War on Terror), and amend the Internal Revenue Code of 1986 to 
provide individuals a ``War is Making You Poor'' tax credit against the 
 savings attributable to the overseas contingency operations reduction.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``War is Making You Poor Act''.

SEC. 2. WAR ON TERROR TO BE FUNDED BY DEPARTMENT OF DEFENSE BUDGET.

    Of the amounts made available to the Department of Defense in any 
appropriations Act for fiscal year 2011--
            (1) such amounts for the base budget shall not exceed an 
        amount equal to the $548,919,000,000 specified in the budget of 
        the United States Government for fiscal year 2011, submitted by 
        the President under section 1105(a) of title 31, United States 
        Code, and
            (2) such amounts for overseas contingency operations in 
        Iraq, Afghanistan, or Pakistan--
                    (A) may not be made available in a separate 
                discretionary account, and
                    (B) shall be made available without taking into 
                account the additional $159,300,000,000 specified for 
                such operations in such budget.

SEC. 3. WAR IS MAKING YOU POOR CREDIT.

    (a) In General.--Subchapter B of chapter 65 is amended by adding at 
the end the following new section:

``SEC. 6433. WAR IS MAKING YOU POOR CREDIT.

    ``(a) In General.--In the case of an eligible individual, there 
shall be allowed as a credit against the tax imposed by subtitle A for 
the first taxable year beginning in 2011 an amount equal to the net 
income tax liability of the taxpayer for the taxable year (determined 
without regard this section).
    ``(b) Limitation Based on Modified Adjusted Gross Income.--
            ``(1) In general.--The amount which would (but for this 
        subsection) be allowed as a credit under subsection (a) for the 
        taxable year shall be reduced (but not below zero) by the 
        amount which bears the same ratio to the amount which would be 
        so allowed as--
                    ``(A) the excess of--
                            ``(i) the taxpayer's modified adjusted 
                        gross income for such taxable year, over
                            ``(ii) $35,000 ($70,000 in the case of a 
                        joint return), bears to
                    ``(B) $10,000 ($20,000 in the case of a joint 
                return).
            ``(2) Modified adjusted gross income.--For purposes of this 
        subsection, the term `modified adjusted gross income' means the 
        adjusted gross income of the taxpayer for the taxable year 
        increased by any amount excluded from gross income under 
        sections 911, 931, or 933.
    ``(c) Rules Similar to 2008 Recovery Rebates.--Rules similar to the 
rules of subsections (b), (c), and (e) through (h) of section 6428 
shall apply for purposes of this section.''.
    (b) Clerical Amendment.--The table of sections for subchapter B of 
chapter 65 is amended by adding at the end the following new item:

``Sec. 6433. War is making you poor credit.''.
    (c) Effective Date.--The amendments made by this section shall take 
effect on the date of the enactment of this Act.
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