The main purpose of this legislation is to change the tax treatment of military bonuses. Specifically, it aims to exclude bonuses received by members of the military from being counted as taxable income. This means that service members will not have to pay federal income tax on these bonuses, which is intended to provide them with more financial relief. Key provisions of this legislation include a revision to the Internal Revenue Code, specifically section 134. The change allows for the exclusion of any bonuses paid to military personnel under a specific chapter of the U.S. Code.