A bill to amend the Internal Revenue Code of 1986 to expand the deduction for interest on education loans, to extend and expand the deduction for qualified tuition and related expenses, and eliminate the limitation on contributions to Coverdell education savings accounts.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Aug 5, 2015)
Amends the Internal Revenue Code to: (1) allow an unlimited tax deduction for student loan interest, (2) repeal the dollar limitation on the tax deduction for qualified tuition and related expenses and make such deduction permanent; (3) allow a carryover to succeeding taxable years of amounts of the deduction for qualified tuition and related expenses that exceed a taxpayer's taxable income; and (4) repeal the dollar limitation on contributions to a Coverdell Education Savings Account.
What just happenedAug 5, 2015
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateAug 5, 2015
- Aug 5, 2015IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Aug 5, 2015IntroReferral10000
Introduced in Senate