US HB4079 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on July 25 2019 - 25% progression, died in committee
Action: 2019-07-25 - Referred to the Committee on Education and Labor, 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.
Pending: House Education and Labor Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 25 2019 - 25% progression, died in committee
Action: 2019-07-25 - Referred to the Committee on Education and Labor, 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.
Pending: House Education and Labor Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Replaces existing federal student loan programs with the Income Dependent Education Assistance (IDEA) Loan Program and the IDEA Loan Repayment Program. Loans under these programs are not eligible for the federal public service loan forgiveness program. The repayment program offers a single repayment plan that caps annual debt repayments based on the borrower's income. The Department of Education (ED) must provide an online tool to enable borrowers to make payments and access specified details regarding loans. The bill provides ED with access to information in the National Directory of New Hires to identify when borrowers are hired and remind them of their repayment status and obligation to provide accurate employment information. The bill requires (1) the total amount deducted and withheld under the IDEA Loan Repayment Program to be reported on W-2 forms, and (2) the Department of the Treasury to disclose to ED tax return information necessary to carry out the IDEA Loan Repayment Program.
Title
Earnings Contingent Education Loans Act of 2019 ExCEL Act of 2019
Sponsors
Rep. Lee Zeldin [R-NY] |
History
Date | Chamber | Action |
---|---|---|
2019-07-25 | House | Referred to the Committee on Education and Labor, 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. |
2019-07-25 | House | Referred to the Committee on Education and Labor, 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. |
2019-07-25 | House | Introduced in House |
Subjects
Education
Education programs funding
Employee hiring
Employment taxes
Government information and archives
Government lending and loan guarantees
Higher education
Interest, dividends, interest rates
Internet and video services
Military personnel and dependents
Student aid and college costs
Tax administration and collection, taxpayers
User charges and fees
Education programs funding
Employee hiring
Employment taxes
Government information and archives
Government lending and loan guarantees
Higher education
Interest, dividends, interest rates
Internet and video services
Military personnel and dependents
Student aid and college costs
Tax administration and collection, taxpayers
User charges and fees
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/4079/all-info |
Text | https://www.congress.gov/116/bills/hr4079/BILLS-116hr4079ih.pdf |