Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
Senate Bill 3916
116th Congress(2019-2020)
American Workforce Development Act
Introduced
Introduced
Introduced in Senate on Jun 8, 2020
Overview
Text
Introduced in Senate 
Jun 8, 2020
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Introduced in Senate(Jun 8, 2020)
Jun 8, 2020
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Jump To
S. 3916 (Introduced-in-Senate)


116th CONGRESS
2d Session
S. 3916


To amend the Internal Revenue Code of 1986 to increase the exclusion for educational assistance programs.

IN THE SENATE OF THE UNITED STATES

June 8, 2020

Mrs. Loeffler introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to increase the exclusion for educational assistance programs.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “American Workforce Development Act”.

SEC. 2. Increase in exclusion for educational assistance programs.

(a) In general.—Paragraph (2) of section 127(a) of the Internal Revenue Code of 1986 is amended by striking “$5,250” each place it appears in the text and the heading and inserting “$11,500”.

(b) Inflation adjustment.—Section 127(c) of such Code is amended by adding at the end the following new paragraph:

“(8) INFLATION ADJUSTMENT.—

“(A) IN GENERAL.—In the case of any calendar year after 2019, each dollar amount in subsection (a)(2) shall be increased by an amount equal to—

“(i) such dollar amount, multiplied by

“(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which such taxable year begins by substituting ‘calendar year 2017’ for ‘calendar year 2016’ in subparagraph (A)(ii) thereof.

“(B) ROUNDING.—If any increase determined under subparagraph (A) is not a multiple of $50, such increase shall be rounded to the next lowest multiple of $50.”.

(c) Effective date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2019.