HR 5359
DEBT Act of 2019
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the DEBT Act of 2019, aims to reduce the tax burden on employees with student loan debt. It expands the tax exclusion for employer-provided educational assistance to include payments made by employers to student loan lenders, increases the maximum amount of student loan interest that can be deducted from taxes, and raises the income limits for those deductions. These changes are designed to provide greater financial relief to borrowers.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Steve Stivers
Cosponsors
Abigail Davis Spanberger
John Katko
Kathleen M. Rice
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