Decreasing Employees Burdensome Taxes from Student Loans Act of 2019 or the DEBT Act of 2019 This bill amends the Internal Revenue Code, with respect to the tax treatment of student loan payments, to (1) expand 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) increase the maximum amount that may be excluded from the gross income of an employee under employer-provided educational assistance programs, and (3) increase the maximum tax deduction and the income limitation for interest on education loans.
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Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
Employee benefits and pensionsHigher educationIncome tax deductionsIncome tax exclusionInterest, dividends, interest ratesStudent aid and college costs
DEBT Act of 2019
USA116th CongressHR-5359| House
| Updated: 12/6/2019
Decreasing Employees Burdensome Taxes from Student Loans Act of 2019 or the DEBT Act of 2019 This bill amends the Internal Revenue Code, with respect to the tax treatment of student loan payments, to (1) expand 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) increase the maximum amount that may be excluded from the gross income of an employee under employer-provided educational assistance programs, and (3) increase the maximum tax deduction and the income limitation for interest on education loans.
Employee benefits and pensionsHigher educationIncome tax deductionsIncome tax exclusionInterest, dividends, interest ratesStudent aid and college costs