To amend the Internal Revenue Code of 1986 to expand the exclusion for employer-provided educational assistance and to expand the availability of the student loan interest deduction.
Decreasing Employees Burdensome Taxes from Student Loans Act of 2021 or the DEBT Act of 2021
This bill modifies tax provisions relating to the exclusion from employee gross income for employer-provided educational assistance and the student loan interest tax deduction. Specifically, it (1) expands the tax exclusion for employer-provided educational assistance programs to include an employer's payment of any qualified education loan incurred by an employee, (2) increases the maximum amount that may be excluded from the gross income of an employee under employer-provided educational assistance programs, and (3) increases the maximum tax deduction and the income limitation for interest on education loans.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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