Bill Sponsor
House Bill 902
117th Congress(2021-2022)
DEBT Act of 2021
Introduced
Introduced
Introduced in House on Feb 5, 2021
Overview
Text
Introduced
Feb 5, 2021
Latest Action
Feb 5, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
902
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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.

Text (1)
February 5, 2021
Actions (2)
02/05/2021
Referred to the House Committee on Ways and Means.
02/05/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:46:50 PM