Student Loan Marriage Penalty Elimination Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill aims to eliminate a tax disadvantage faced by married couples with student loan debt. Currently, married couples cannot fully deduct their student loan interest, and the deduction is limited to $2,500 combined. This legislation would allow each spouse in a marriage to deduct up to $2,500 of student loan interest separately, effectively removing the ‘marriage penalty’ associated with student loan interest deductions.
Key provisions
- Allows married couples to deduct student loan interest separately.
- Increases the student loan interest deduction limit to $2,500 per spouse.
- Modifies Section 221(b)(1) of the Internal Revenue Code.
- Creates conforming amendments to Section 221 of the Internal Revenue Code.
Who is affected
- Married couples
- Borrowers with student loans
- Taxpayers
Notable changes
- Removes the current limitation that prevents married couples from fully deducting student loan interest.
- Provides a separate deduction for each spouse.
Fiscal impact
The Congressional Budget Office has not yet assessed the fiscal impact of this bill.
Bill text
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Sponsors
Official sponsors from legislative records.
17 on record
Primary sponsor
Cosponsors
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