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H.R. 7335 - Fairness and Opportunities for Married Households With Student Loans Act

DEC. 20, 2018

H.R. 7335; Fairness and Opportunities for Married Households With Student Loans Act

DATED DEC. 20, 2018
DOCUMENT ATTRIBUTES
  • Authors
    Davis, Rep. Danny K.
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Education
  • Jurisdictions
  • Tax Analysts Document Number
    2019-54
  • Tax Analysts Electronic Citation
    2019 TNT 2-12
    2019 EOR 2-40
Citations: H.R. 7335; Fairness and Opportunities for Married Households With Student Loans Act

115TH CONGRESS
2D SESSION

H.R. 7335

To amend the Internal Revenue Code of 1986
to increase the amount allowed as a deduction for interest
on education loans paid by married couples.

IN THE HOUSE OF REPRESENTATIVES

DECEMBER 19, 2018

Mr. DANNY K. DAVIS of Illinois introduced the following bill;
which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to increase the amount allowed as a deduction for interest on education loans paid by married couples.

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 "Fairness and Opportunities for Married Households With Student Loans Act".

SEC. 2. INCREASE IN DEDUCTION FOR INTEREST ON EDUCATION LOANS PAID BY MARRIED COUPLES.

(a) IN GENERAL. — Section 221(b)(1) of the Internal Revenue Code of 1986 is amended by inserting "($5,000 in the case of a joint return)" after "$2,500".

(b) EFFECTIVE DATE. — The amendment made by subsection (a) shall apply to amounts paid in taxable years beginning after the date of the enactment of this Act.

DOCUMENT ATTRIBUTES
  • Authors
    Davis, Rep. Danny K.
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Education
  • Jurisdictions
  • Tax Analysts Document Number
    2019-54
  • Tax Analysts Electronic Citation
    2019 TNT 2-12
    2019 EOR 2-40
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