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S 1373 114th Congress Senate Education Education programs funding Educational guidance Employment and training programs Financial services and investments Government information and archives Higher education Income tax credits Interest, dividends, interest rates Sales and excise taxes Securities Student aid and college costs Tax administration and collection, taxpayers Teaching, teachers, curricula

College for All Act

Introduced: May 19, 2015 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 19, 2015
Read twice and referred to the Committee on Finance.
May 19, 2015
Introduced in Senate
 Plain-English summary Congressional Research Service

College for All Act

This bill directs the Department of Education (ED) to award grants to states to eliminate tuition and required fees at public institutions of higher education (IHEs).

It also amends the Higher Education Act of 1965 to:

  • modify provisions related to interest rates on federal student loans to revise rates applicable to new loans disbursed on or after July 1, 2015;
  • allow student loan borrowers to modify interest rates on outstanding federal student loans to current rates;
  • reauthorize the Federal Work Study program for FY2016-FY2020;
  • eliminate existing base guarantees of Federal Work Study funds to IHEs and require funds to be allocated based solely on the aggregate need of the institution’s students;
  • authorize ED to establish a pilot program to streamline the federal financial assistance application process and reduce the need for students to apply for financial assistance each year; and
  • require ED to use tax information from the second preceding tax year (the “prior, prior year”) to determine a student’s financial aid eligibility.

Inclusive Prosperity Act of 2015

To offset the cost, this bill amends the Internal Revenue Code to impose a transaction tax on certain securities transfers. An individual taxpayer whose modified adjusted gross income does not exceed $50,000 ($75,000 for married taxpayers filing joint returns) is eligible for a tax credit for the amount of tax paid on covered transactions.

What's happening now May 19, 2015

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1