Proposal:DEBT Act of 2021

This proposal is archived and closed to further debate. It was introduced in the 117th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 902
Type of Legislation	House Bill
Congress	117
Status	Archived — 117th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

Decreasing Employees Burdensome Taxes from Student Loans Act of 2021 or the DEBT Act of 2021

This bill modifies tax provisions relating to the exclusion from employee gross income for employer-provided educational assistance and the student loan interest tax deduction. Specifically, it (1) expands the tax exclusion for employer-provided educational assistance programs to include an employer's payment of any qualified education loan incurred by an employee, (2) increases the maximum amount that may be excluded from the gross income of an employee under employer-provided educational assistance programs, and (3) increases the maximum tax deduction and the income limitation for interest on education loans.

Bill Title

DEBT Act of 2021

Linked Goals

• Goal:Promote General Welfare

Steps

• 2021-02-05: Referred to the House Committee on Ways and Means.
• 2021-02-05: Introduced in House
• 2021-02-05: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.