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Bill > HR5920

US HR5920

US HR5920
Student Loan Marriage Penalty Elimination Act of 2023

summary

Introduced
10/11/2023
In Committee
10/25/2023
Crossed Over
Passed
Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

A BILL To amend the Internal Revenue Code of 1986 to allow married couples to apply the student loan interest deduction limitation separately to each spouse, and for other purposes.

AI Summary

This bill, the Student Loan Marriage Penalty Elimination Act of 2023, amends the Internal Revenue Code to allow married couples to apply the student loan interest deduction limitation separately to each spouse. Previously, the deduction was limited to a total of $2,500 per couple, which could disadvantage married couples compared to single individuals. The bill changes this by specifying that the $2,500 limit applies to each spouse individually, rather than to the couple jointly. This change is intended to eliminate the potential "marriage penalty" regarding the student loan interest deduction and provide more equitable tax treatment for married taxpayers with student loan debt.

Committee Categories

Budget and Finance

Sponsors (42)

Glenn Grothman (R)*,  Jim Banks (R),  Stephanie Bice (R),  Salud Carbajal (D),  Troy Carter (D),  Ben Cline (R),  Andrew Clyde (R),  Gerry Connolly (D),  Danny Davis (D),  Suzan DelBene (D),  George Devolder-Santos (R),  Brian Fitzpatrick (R),  Scott Franklin (R),  Matt Gaetz (R),  Dan Goldman (D),  Jimmy Gomez (D),  Josh Gottheimer (D),  Mark Green (R),  Harriet Hageman (R),  Jahana Hayes (D),  Sheila Jackson-Lee (D),  Derek Kilmer (D),  John Larson (D),  Jake LaTurner (R),  Mike Lawler (R),  Debbie Lesko (R),  Anna Luna (R),  Richard McCormick (R),  Mary Miller (R),  John Moolenaar (R),  Nathaniel Moran (R),  Kevin Mullin (D),  Joe Neguse (D),  David Rouzer (R),  Terri Sewell (D),  Mikie Sherrill (D),  Abigail Spanberger (D),  Greg Steube (R),  Eric Swalwell (D),  Claudia Tenney (R),  David Trone (D),  Joe Wilson (R), 

Last Action

Referred to the House Committee on Ways and Means. (on 10/25/2023)

Bill Topics

Education
  • ‐ Higher Education
Macroeconomics
  • ‐ Taxation, Tax Policy, and Tax Reform
(1 Companion Bills)

bill text

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Document Type Source Location Created
State Bill Page https://www.congress.gov/bill/118th-congress/house-bill/5920/all-info 10/12/2023
BillText https://www.congress.gov/118/bills/hr5920/BILLS-118hr5920ih.pdf 11/07/2023
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