US SB3025 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on June 7 2016 - 25% progression, died in committee
Action: 2016-06-07 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 7 2016 - 25% progression, died in committee
Action: 2016-06-07 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Graduate Student Savings Act of 2016 This bill amends the Internal Revenue Code to allow funds paid to an individual to aid in the pursuit of graduate or postdoctoral study or research to be saved in an Individual Retirement Account (IRA). The bill permits the funds to be considered compensation for purposes of current law provisions that limit annual deductible IRA contributions to the lesser of: (1) the deductible amount permitted under current law, or (2) the compensation includible in the individual's gross income for the year.
Title
Graduate Student Savings Act of 2016
Sponsors
| Sen. Elizabeth Warren [D-MA] | Sen. Mike Lee [R-UT] |
History
| Date | Chamber | Action |
|---|---|---|
| 2016-06-07 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
Employee benefits and pensions
Higher education
Income tax deductions
Student aid and college costs
Taxation
Higher education
Income tax deductions
Student aid and college costs
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/senate-bill/3025/all-info |
| Text | https://www.congress.gov/114/bills/s3025/BILLS-114s3025is.pdf |
