Clermont Times

Washington, D.C. - The VSO Equal Tax Treatment (VETT) Act, a bipartisan and bicameral legislation introduced by Reps. Brad Wenstrup (R-OH) and Jimmy Panetta (D-CA), has been reported out favorably from the House Ways and Means Committee. This legislation aims to update a provision in the Federal tax code that currently prevents Veterans Service Organizations (VSOs) from accepting tax-deductible donations unless they maintain a membership of at least 90 percent wartime veterans.

Under the current rules, veterans who joined and served after the Vietnam War and prior to the Persian Gulf War in 1991 are excluded from being considered "wartime" veterans. This exclusion prevents VSOs from receiving tax-deductible charitable donations, limiting their ability to provide vital support and a sense of community to veterans who have sacrificed for our country.

Rep. Wenstrup expressed his support for the VETT Act, stating, "Veterans who have sacrificed so much for our country receive vital support and a sense of community from VSOs. This legislation would help VSOs continue to serve the men and women who have worn our nation's uniform by making needed reforms to the tax code so VSOs can maintain their memberships and grow without having to risk losing their ability to receive tax-deductible charitable donations. I am pleased to see this bill reported favorably by the Ways and Means Committee and look forward to a vote on the House floor."

Rep. Panetta also emphasized the importance of updating the tax code to support VSOs, saying, "Due to their invaluable work for our veterans in our communities, our nation's Veteran Service Organizations should not be deprived of potential benefits due to outdated classifications in our tax code. I'm pleased that our bipartisan, commonsense legislation is moving forward so that charitable contributions to VSOs can be made tax deductible. As a member of the Ways and Means Committee and proud veteran, I will continue my efforts to ensure that our federal tax code incentivizes and encourages Americans to support these organizations in their work to serve those who served our country."

The VETT Act has received endorsements from several prominent veterans organizations, including AMVETS, American Legion, AMSUS, Commissioned Officers Association of the USPHS, Fleet Reserve Association, Jewish War Veterans, Military Order of the World Wars, Non Commissioned Officers Association, U.S. Coast Guard Chief Petty Officers Association, and TREA: The Enlisted Association.

With the House Ways and Means Committee's favorable report, the VETT Act is one step closer to becoming law. This legislation seeks to bring much-needed reform to the tax code, allowing VSOs to accept tax-deductible donations from a wider range of veterans and ensuring that they can continue their crucial work of supporting and serving those who have served our country.

Click this link to access more information: https://wenstrup.house.gov/news/documentsingle.aspx?DocumentID=407964