Lifetime Learning Credit Enhancement Act

Lifetime Learning Credit Enhancement Act

This bill amends the Internal Revenue Code, with respect to the lifetime learning tax credit, to increase the taxpayer income ceiling for purposes of the phaseout of such credit. Under current law, the phaseout of the credit begins for a taxpayer with a modified adjusted gross income over $40,000 ($80,000 for joint returns). This bill doubles those amounts.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2819 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2819

To amend the Internal Revenue Code of 1986 to increase the income-based 
 limitations for the Lifetime Learning Credit, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 7, 2019

  Mr. Roberts introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to increase the income-based 
 limitations for the Lifetime Learning Credit, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Lifetime Learning Credit Enhancement 
Act''.

SEC. 2. INCREASE INCOME LIMITATIONS FOR PHASEOUT OF LIFETIME LEARNING 
              CREDIT.

    (a) In General.--Section 25A of the Internal Revenue Code of 1986 
is amended--
            (1) in subsection (d)(2)(A)(ii), by striking ``$40,000 
        ($80,000'' and inserting ``$80,000 ($160,000'', and
            (2) in subsection (h)(1)--
                    (A) by striking ``after 2001, the $40,000 and 
                $80,000 amounts'' and inserting ``after 2020, the 
                $80,000 and $160,000 amounts'', and
                    (B) by striking ``calendar year 2000'' and 
                inserting ``calendar year 2019''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2019.

SEC. 3. REPEAL OF EXPIRED DEDUCTION FOR QUALIFIED TUITION AND RELATED 
              EXPENSES.

    (a) In General.--Part VII of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by striking section 222 (and 
by striking the item relating to such section in the table of sections 
for such part).
    (b) Conforming Amendments.--
            (1) Section 62(a) of such Code is amended by striking 
        paragraph (18).
            (2) Section 74(d)(2)(B) of such Code is amended by striking 
        ``222,''.
            (3) Section 86(b)(2)(A) of such Code is amended by striking 
        ``222,''.
            (4) Section 135(c)(4)(A) of such Code is amended by 
        striking ``222,''.
            (5) Section 137(b)(3)(A) of such Code is amended by 
        striking ``222,''.
            (6) Section 219(g)(3)(A)(ii) of such Code is amended by 
        striking ``222,''.
            (7) Section 221(b)(2)(C)(i) of such Code is amended by 
        striking ``222,''.
            (8) Section 469(i)(3)(E)(iii) of such Code is amended by 
        striking ``222,''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2017.
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