summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Investing in Our Student's Future Act - Amends title IV (Student Assistance) of the Higher Education Act of 1965 to make the 3.4% interest rate on Direct Stafford loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2012, applicable to Direct Stafford loans first disbursed to undergraduate students on or after July 1, 2012. Amends the Internal Revenue Code to increase the top marginal income tax rate for individuals by 1%, beginning in calendar year 2013.
AI Summary
This bill, titled the "Investing in Our Student's Future Act," aims to make student loans more affordable and adjust tax rates. Specifically, it extends a previously established 3.4% interest rate for Direct Stafford loans, which are federal student loans for undergraduate students, to loans first disbursed on or after July 1, 2012, ensuring this lower rate continues for future borrowers. Additionally, the bill proposes to increase the highest marginal income tax rate for individuals by 1% starting in the calendar year 2013, meaning those in the highest income bracket would pay a slightly higher percentage of their income in taxes.
Committee Categories
Budget and Finance, Business and Industry, Education
Sponsors (1)
Last Action
Referred to the Subcommittee on Higher Education and Workforce Training. (on 09/26/2012)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/house-bill/5812/all-info | 04/25/2013 |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr5812ih/pdf/BILLS-112hr5812ih.pdf.pdf | 02/03/2013 |
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