summary
Introduced
10/25/2017
10/25/2017
In Committee
10/25/2017
10/25/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Upward Mobility Enhancement Act This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee. The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, in the case of assistance for education below the graduate level; and (2) requires the dollar amount to be adjusted for inflation after 2017. (Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)
AI Summary
This bill amends the Internal Revenue Code to increase the maximum amount of employer-provided educational assistance that can be excluded from an employee's gross income. Specifically, the bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, in the case of assistance for education below the graduate level; and (2) requires the dollar amount to be adjusted for inflation after 2017. This is an increase from the current law, which only allows for the exclusion of the first $5,250 of educational assistance and does not adjust the amount for inflation.
Committee Categories
Budget and Finance
Sponsors (8)
Jason Smith (R)*,
Henry Cuellar (D),
Danny Davis (D),
Rodney Davis (R),
Suzan DelBene (D),
Anna Eshoo (D),
Derek Kilmer (D),
Kyrsten Sinema (I),
Last Action
Referred to the House Committee on Ways and Means. (on 10/25/2017)
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/115th-congress/house-bill/4135/all-info |
| BillText | https://www.congress.gov/115/bills/hr4135/BILLS-115hr4135ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr4135/BILLS-115hr4135ih.pdf.pdf |
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