To amend the Internal Revenue Code of 1986 to increase the exclusion from gross income for combat pay received by a commissioned officer to $2,000 per month.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the exclusion from gross income for combat pay of commissioned officers (from $500 to $2,000 monthly). Requires the transfer from the Defense Cooperation Account to the general fund of the Treasury such amounts as determined necessary to offset the revenue loss caused by this amendment during the period of the Persian Gulf conflict.…