US HB5359 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Introduced on December 6 2019 - 25% progression, died in committee
Action: 2019-12-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 6 2019 - 25% progression, died in committee
Action: 2019-12-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code, with respect to the tax treatment of student loan payments, to (1) expand the tax exclusion for employer-provided educational assistance programs to include an employer's payment of any qualified education loan incurred by an employee, (2) increase the maximum amount that may be excluded from the gross income of an employee under employer-provided educational assistance programs, and (3) increase the maximum tax deduction and the income limitation for interest on education loans.
Title
DEBT Act of 2019 Decreasing Employees Burdensome Taxes from Student Loans Act of 2019
Sponsors
Rep. Steve Stivers [R-OH] | Rep. Kathleen Rice [D-NY] | Rep. John Katko [R-NY] | Rep. Abigail Spanberger [D-VA] |
Rep. Kendra Horn [D-OK] | Rep. Josh Gottheimer [D-NJ] |
History
Date | Chamber | Action |
---|---|---|
2019-12-06 | House | Referred to the House Committee on Ways and Means. |
2019-12-06 | House | Introduced in House |
Subjects
Employee benefits and pensions
Higher education
Income tax deductions
Income tax exclusion
Interest, dividends, interest rates
Student aid and college costs
Taxation
Higher education
Income tax deductions
Income tax exclusion
Interest, dividends, interest rates
Student aid and college costs
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/5359/all-info |
Text | https://www.congress.gov/116/bills/hr5359/BILLS-116hr5359ih.pdf |