Provides for the deduction of student loan interest from federal adjusted gross income

This bill would allow taxpayers to deduct interest paid on qualified student loans from their federal taxable income. It applies to individuals who pay interest on education loans used for higher education, directly affecting borrowers with such loans. The deduction would be calculated as specified in existing IRS rules (26 USC § 221) and would apply to tax years beginning January 1, 2026. This policy change reduces taxable income for eligible borrowers without altering current tax filing requirements.