summary
Introduced
03/13/2019
03/13/2019
In Committee
03/13/2019
03/13/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Higher Education Act of 1965 to provide for the refinancing of certain Federal student loans, and for other purposes. This bill revises requirements concerning student loan debt. Specifically, the bill establishes a program that allows eligible individuals with federal or private student loans to refinance them down to the lower rates offered to new federal borrowers in the 2016-2017 school year under certain circumstances. In addition, the bill requires an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (commonly known as the tentative fair share tax).
AI Summary
This bill, the Bank on Students Emergency Loan Refinancing Act, would allow eligible individuals with federal or private student loans to refinance them down to lower interest rates offered to new federal borrowers in the 2016-2017 school year. The bill also requires individuals with adjusted gross income exceeding $1 million to pay a minimum tax rate of 30% on the excess over their modified charitable contribution deduction. The bill aims to help borrowers with student loan debt by allowing them to refinance to lower interest rates, while partially funding this program through a minimum tax on high-income individuals.
Committee Categories
Education
Sponsors (88)
Joe Courtney (D)*,
Pete Aguilar (D),
Karen Bass (D),
Earl Blumenauer (D),
Suzanne Bonamici (D),
Brendan Boyle (D),
Anthony Brown (D),
Salud Carbajal (D),
Tony Cárdenas (D),
Sean Casten (D),
Kathy Castor (D),
David Cicilline (D),
Gil Cisneros (D),
Steve Cohen (D),
Susan Davis (D),
Madeleine Dean (D),
Diana DeGette (D),
Rosa DeLauro (D),
Suzan DelBene (D),
Debbie Dingell (D),
Lloyd Doggett (D),
Eliot Engel (D),
Veronica Escobar (D),
Anna Eshoo (D),
Abby Finkenauer (D),
Bill Foster (D),
Chuy García (D),
Vicente Gonzalez (D),
Raúl Grijalva (D),
Jahana Hayes (D),
Denny Heck (D),
Katie Hill (D),
Jim Himes (D),
Sheila Jackson-Lee (D),
Pramila Jayapal (D),
Marcy Kaptur (D),
Bill Keating (D),
Derek Kilmer (D),
Ron Kind (D),
Ann Kuster (D),
Conor Lamb (D),
James Langevin (D),
John Larson (D),
Barbara Lee (D),
Susie Lee (D),
Andy Levin (D),
Ted Lieu (D),
Nita Lowey (D),
Ben Ray Luján (D),
Elaine Luria (D),
Carolyn Maloney (D),
Sean Maloney (D),
Jim McGovern (D),
Gwen Moore (D),
Debbie Mucarsel-Powell (D),
Joe Neguse (D),
Donald Norcross (D),
Eleanor Holmes Norton (D),
Ed Perlmutter (D),
Dean Phillips (D),
Chellie Pingree (D),
Mike Quigley (D),
Jamie Raskin (D),
Kathleen Rice (D),
Tim Ryan (D),
Kilili Sablan (D),
Linda Sánchez (D),
Mary Gay Scanlon (D),
Jan Schakowsky (D),
Kurt Schrader (D),
José Serrano (D),
Brad Sherman (D),
Elissa Slotkin (D),
Adam Smith (D),
Jackie Speier (D),
Tom Suozzi (D),
Eric Swalwell (D),
Mark Takano (D),
Mike Thompson (D),
Dina Titus (D),
David Trone (D),
Peter Visclosky (D),
Debbie Wasserman Schultz (D),
Peter Welch (D),
Jennifer Wexton (D),
Susan Wild (D),
Frederica Wilson (D),
John Yarmuth (D),
Last Action
Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (on 03/13/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/1707/all-info |
BillText | https://www.congress.gov/116/bills/hr1707/BILLS-116hr1707ih.pdf |
Bill | https://www.congress.gov/116/bills/hr1707/BILLS-116hr1707ih.pdf.pdf |
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