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US S460

US S460
Employer Participation in Repayment Act of 2019


summary

Introduced
02/12/2019
In Committee
02/12/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

A bill to amend the Internal Revenue Code of 1986 to extend the exclusion for employer-provided education assistance to employer payments of student loans. This bill expands the tax exclusion for employer-provided educational assistance to include payments of qualified education loans by an employer to either an employee or a lender.

AI Summary

This bill expands the tax exclusion for employer-provided educational assistance to include payments by an employer towards an employee's student loans, either made directly to the employee or to the lender. It amends the Internal Revenue Code to allow this exclusion, and includes a conforming amendment to deny a double benefit for the same loan payments. The amendments in this bill would apply to payments made after December 31, 2019.

Committee Categories

Budget and Finance

Sponsors (65)

Mark Warner (D)* Tammy Baldwin (D),  John Barrasso (R),  Richard Blumenthal (D),  Roy Blunt (R),  Cory Booker (D),  John Boozman (R),  Mike Braun (R),  Shelley Moore Capito (R),  Bob Casey (D),  Bill Cassidy (R),  Susan Collins (R),  Chris Coons (D),  Kevin Cramer (R),  Mike Crapo (R),  Steve Daines (R),  Tammy Duckworth (D),  Joni Ernst (R),  Dianne Feinstein (D),  Deb Fischer (R),  Cory Gardner (R),  Lindsey Graham (R),  Kamala Harris (D),  Maggie Hassan (D),  Josh Hawley (R),  Martin Heinrich (D),  John Hoeven (R),  Cindy Hyde-Smith (R),  James Inhofe (R),  Johnny Isakson (R),  Ron Johnson (R),  Doug Jones (D),  John Neely Kennedy (R),  Angus King (I),  Amy Klobuchar (D),  James Lankford (R),  Joe Manchin (I),  Ed Markey (D),  Mitch McConnell (R),  Martha McSally (R),  Bob Menendez (D),  Jeff Merkley (D),  Jerry Moran (R),  Lisa Murkowski (R),  Chris Murphy (D),  Gary Peters (D),  Jack Reed (D),  Jim Risch (R),  Pat Roberts (R),  Mitt Romney (R),  Jacky Rosen (D),  Mike Rounds (R),  Chuck Schumer (D),  Tim Scott (R),  Jeanne Shaheen (D),  Kyrsten Sinema (I),  Debbie Stabenow (D),  Dan Sullivan (R),  Jon Tester (D),  John Thune (R),  Thom Tillis (R),  Tom Udall (D),  Chris Van Hollen (D),  Roger Wicker (R),  Todd Young (R), 

Last Action

Read twice and referred to the Committee on Finance. (on 02/12/2019)

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