To amend the Internal Revenue Code of 1986 to exclude from gross income amounts paid on behalf of Federal employees and members of the Armed Forces on active duty under Federal student loan repayment programs.
Generating Opportunity by Forgiving Educational Debt for Service Act of 2007 - Amends the Internal Revenue Code to exclude from gross income student loan repayments by the federal government on behalf of federal employees and members of the Armed Forces on active duty. Exempts such repayments from social security taxes.
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR H5627)
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