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HR 747 101th Congress House Taxation Education Income tax Interest Student loan funds Tax deductions

To amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.

Introduced: January 31, 1989 See on congress.gov
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 31, 1989
Referred to the House Committee on Ways and Means.
Jan 31, 1989
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow an income tax deduction for interest on any indebtedness incurred to pay the educational expenses of the taxpayer, spouse, or dependent. (Under current law, such a loan must be secured by an interest in real property.)

What's happening now January 31, 1989

Referred to the House Committee on Ways and Means.

 Related & companion bills 2
  • HR 779 Identical bill To amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.
  • HR 784 Identical bill To amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 11
All 11 Democratic 9 Republican 2
D
Neal, Richard E.
Massachusetts · Sep 12, 1990
 D
Pelosi, Nancy
California · Mar 29, 1990
 D
Pallone, Frank
New Jersey · Jun 28, 1989
 R
Smith, Christopher H.
New Jersey · May 9, 1989
 D
Durbin, Richard J.
Illinois · Apr 13, 1989
 D
Hoyer, Steny H.
Maryland · Feb 22, 1989
 D
Kaptur, Marcy
Ohio · Feb 22, 1989
 D
Markey, Edward J.
Massachusetts · Feb 22, 1989
 D
Mfume, Kweisi
Maryland · Feb 22, 1989
 R
Rogers, Harold
Kentucky · Feb 22, 1989
 D
Wyden, Ron
Oregon · Feb 22, 1989
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 747: To amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.. 101st Congress. Open America. https://openamerica.io/bill/101-HR-747/
MLA
"H.R. 747: To amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-HR-747/.
Bluebook (legal)
H.R. 747, 101st Cong. (2026), https://openamerica.io/bill/101-HR-747/.
Markdown link
[H.R. 747: To amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.](https://openamerica.io/bill/101-HR-747/)
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