H.R. 3948, The Share the Sacrifice Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3948 would amend the Internal Revenue Code of 1986 to establish a temporary surtax to offset the current costs of the Iraq war.

Detailed Summary

Share the Sacrifice Act of 2007 - Amends the Internal Revenue Code to impose an Iraq War surtax on the net income tax liabilities of individuals, estates and trusts, and corporations. Exempts from such surtax: (1) members of the Armed Forces who have received combat pay after September 11, 2001; (2) survivors of military personnel who received a death gratuity; and (3) taxpayers with adjusted gross income not in excess of $30,000.

Status of the Legislation

Latest Major Action: 10/23/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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