HR 5359
116th Congress
House
Taxation
Employee benefits and pensions
Higher education
Income tax deductions
Income tax exclusion
Interest, dividends, interest rates
Student aid and college costs
DEBT Act of 2019
Introduced: December 6, 2019
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 6, 2019
Referred to the House Committee on Ways and Means.
Dec 6, 2019
Introduced in House
Plain-English summary
Decreasing Employees Burdensome Taxes from Student Loans Act of 2019 or the DEBT Act of 2019
This bill 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1