Why Should I Vote On BetterDistricts?

Polling is a powerful tool to help our elected officials determine how they should vote.

Standard polling methods don't give you the control that you deserve. With BetterDistricts you can show your representative exactly how strongly a bill is supported in your community.

Send a clear signal on how you want your government to work.

 

S. 3189 - Income-Based Repayment Debt Forgiveness Act

Sponsor: Jeff Merkley (D)
Introduced: 2018-07-10
Bill Status: Read twice and referred to the Committee on Finance.
 
Summary Not Available

Full Text


115th CONGRESS
2d Session
S. 3189


    To exclude the discharge of certain Federal student loans from the calculation of gross income.


IN THE SENATE OF THE UNITED STATES

July 10, 2018

    Mr. Merkley (for himself and Mr. Wyden) introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

    To exclude the discharge of certain Federal student loans from the calculation of gross income.

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 “Income-Based Repayment Debt Forgiveness Act”.

SEC. 2. Forgiveness of certain Federal student loans excluded from income tax.

(a) In General.—Paragraph (1) of section 108(f) of the Internal Revenue Code of 1986 is amended by striking “any student loan if” and all that follows and inserting “any student loan if—

“(A) such discharge was pursuant to a provision of such loan under which all or part of the indebtedness of the individual would be discharged if the individual worked for a certain period of time in certain professions for any of a broad class of employers, or

“(B) in the case of a loan made by the United States or an instrumentality or agency thereof, such discharge was pursuant to any Federal program or provision of Federal law which provides for income contingent or income-based repayment of such loan.”.

(b) Effective Date.—The amendment made by subsection (a) shall apply to discharges of loans that occur on or after July 1, 2019.


Relevant News Stories And Blog Posts

Title Worth Reading

Vote on S. 3189

 

Activity in last 30 days