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HR 6594 United States House · 118th Congress

GRADUATE Act

Summary
Generating Relief for Academic Debt Using Assisted Tax Efficiency Act or the GRADUATE Act This bill expands the tax deduction for student loan interest to include payments toward principal. It also increases the maximum allowable amount of the deduction.
Issues: ✓ Budget & TaxesSupports Budget & TaxesExpands tax deduction for student loan interest (including principal) and increases deduction amount, providing tax relief for middle/lower-income borrowers.92% confidence ✓ EducationSupports EducationExpands tax deductions for student loan principal payments, reducing financial barriers to higher education access and aligning with educational access indicators.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Dec 2023
Committee Review
Floor Vote
President
Introduced Dec 5, 2023 Last action Dec 5, 2023
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Dec 5, 2023
Committee
Referred to the House Committee on Ways and Means.
lower
Dec 5, 2023
Introduced
Introduced in House
lower
1 primary · 13 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Daniel S. Goldman
Daniel S. Goldman
DDemocratic
NY
10
Co
Photo of Alma S. Adams
Alma S. Adams
DDemocratic
NC
12
Co
Photo of Andy Kim
Andy Kim
DDemocratic
NJ
n/a
Co
Photo of Betty McCollum
Betty McCollum
DDemocratic
MN
4
Co
Photo of Chellie Pingree
Chellie Pingree
DDemocratic
ME
1
Co
Photo of Eleanor Holmes Norton
Eleanor Holmes Norton
DDemocratic
DC
At-Large
Co
Photo of Janice D. Schakowsky
Janice D. Schakowsky
DDemocratic
IL
9
Co
Photo of Jasmine Crockett
Jasmine Crockett
DDemocratic
TX
30
Co
Photo of Jesús G. "Chuy" García
Jesús G. "Chuy" García
DDemocratic
IL
4
Co
Photo of Jill N. Tokuda
Jill N. Tokuda
DDemocratic
HI
2
Co
Photo of Kevin Mullin
Kevin Mullin
DDemocratic
CA
15