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HR 1564 United States House · 117th Congress

Student Loan Tax Relief Act

Summary
Student Loan Tax Relief Act This bill modifies tax provisions allowing an exclusion from gross income for income arising from discharges of student loan debt after January 31, 2020. This includes loans for postsecondary educational expenses, private education loans, and loans made by tax-exempt educational organizations. The bill eliminates the temporary expiration date for the exclusion and the death or total and permanent disability requirement for a discharge.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief by excluding forgiven student loan debt from taxable income, reducing tax burden on borrowers per tax provisions modification.90% confidence ✓ EducationSupports EducationBill provides tax relief for discharged student loans used for postsecondary education, reducing financial barriers to higher education access and aligning with educational access indicators.85% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Mar 2021
Committee Review
Floor Vote
President
Introduced Mar 3, 2021 Last action Mar 3, 2021
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Mar 3, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Mar 3, 2021
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jimmy Gomez
Jimmy Gomez
DDemocratic
CA
34
Co
Photo of Bill Pascrell, Jr.
Bill Pascrell, Jr.
DDemocratic
NJ
9