Legislative Tracker: Tax Issues
On this page, you'll find proposals that modify the existing tax code in areas relating to student financial aid.
For tax proposals from the previous session of Congress, visit the Legislative Tracker Archive: Tax Issues.
H.R.4438 - Don't Tax Higher Education Act
Sponsor: Rep. Boyle [D-PA]
Cosponsors: 5 (4D; 1R)
Introduced: 09/20/2019
NASFAA Summary & Analysis: This bill would amend the IRS Code to remove the excise tax on investment income of private colleges and universities.
H.R.3803 - Pell Grant Flexibility Act of 2019
Sponsor: Rep. DeSaulnier [D-CA]
Cosponsors: 4 (3R; 1D)
Introduced: 07/17/2019
NASFAA Analysis & Coverage: This bill would exclude the amount received in Pell Grant from a recipient’s gross income.
H.R.3098 - Student Loan Interest Deduction Act of 2019
Sponsor: Rep. Swalwell, Eric [D-CA]
Cosponsors: 22 (0 R; 22 D)
Introduced: 06/04/2019
NASFAA Analysis & Coverage: This bill modifies the tax deduction for student loan interest to increase the maximum deduction for interest paid on any qualified education loan to $5,000 ($10,000 for married couples filing a joint tax return), and to repeal the limitation on the deduction based upon modified adjusted gross income.
Publication Date: 1/31/2020