S 605
109th Congress
Senate
Taxation
Economics and Public Finance
Education
Elementary and secondary education
Federal aid to education
Government trust funds
Income tax
Tax deductions
Tax exemption
Education Funding Act of 2005
Introduced: March 11, 2005
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 11, 2005
Read twice and referred to the Committee on Finance.
Mar 11, 2005
Introduced in Senate
Plain-English summary
Education Funding Act of 2005 - Amends the Internal Revenue Code to restore the phaseout of the personal tax exemption and the overall limitation on itemized tax deductions.
Establishes in the Treasury the Education Trust Fund. Appropriates to such Fund 50 percent of the revenues raised by this Act for the purpose of funding education programs administered by the Department of Education to the degree that funding for such programs are increased from the FY 2005 level.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1