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house Bill H.R. 1043

Should Employers Be Able to Make Tax-Free Contributions to Reducing Employees’ Student Loan Debt?

Argument in favor

Student loan debt is a major financial burden for young workers, many of whom are struggling to repay their loans right out of school. There currently aren’t many employers offering student loan repayment assistance — but making student loan repayment assistance tax-free (up to $5,250 per employee each year) would increase employer interest in offering this particular benefit.

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03/01/2019
I applaud the creativity of this bill in finding a way to use government funds to decrease the debt for students that are employed. It is one way to ensure that the employers who hire from the pool of US students actually foot the bill for their training, but do so through a set of incentives rather than being forced by regulations and oversight to comply with a federal law. It is our nature as Americans to resist being forced to do things that should clearly be choices we should make in our own best interests. Utilizing this important aspect of the American personality and business culture is a more effective way to ensure a positive outcome.
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SneakyPete's Opinion
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03/01/2019
Employer Participation in Repayment Act - Voluntary Not Mandatary I’d recommend this House bill H.R. 1403 AKA the Employer Participation in Repayment Act of 2019 which would expand the tax exclusion for employer-provided educational assistance to include payments of qualified education loans by an employer to either an employee or lender. This would apply to the first $5,250 of employer-provided student loan assistance money each year. I’d be in support of the Employer Participation in Repayment Act only if it were a Voluntary option and Not a Mandatary requirement for employers. It shouldn’t be a mandatory government bailout program for students who should retain their responsibility to pay 💰 off their own financial responsibilities. Student loan debt is a major financial burden for young workers, many of whom are struggling to repay their loans right out of school. There currently aren’t many employers offering student loan repayment assistance — but making student loan repayment assistance tax-free (up to $5,250 per employee each year) would increase employer interest in offering this particular benefit. SneakyPete..... 🤔🤷🏼‍♂️👍🏻🤷🏼‍♂️🤔. 3*1*19.....
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Douglas's Opinion
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03/01/2019
Yes and the Dept of Education should also narrow the list of qualifying “Universities” based on their student’s default rates as well as job placement rates.
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Argument opposed

While the burden of student loan debt is substantial, offering a tax break to companies that help their employees pay down their student loans would cost the federal government in terms of lost tax revenue, which would increase the deficit. Individuals took out their loans and they should repay them without help from employers via tax incentives.

Robert's Opinion
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03/02/2019
Why don’t we give the tax break to the student instead of an employer. This would be fair to all students instead of a few students whose employer is kind enough to do so.
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Mark's Opinion
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03/02/2019
I have to say no. Instead, tackle the source of the problem. The universities themselves! A serious problem for more than 40 years, charging insane tuition and raising their rates on average 17% year-over-year with zero oversight. Universities know they can get away with it because our system of student loan underwriting in this country allows and encourages them to do it. These schools are absolute thieves. Nothing more nothing less. You’re paying massive dollars with no guarantee whatsoever of improving your life by holding a degree!
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Anna's Opinion
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03/02/2019
Another tax break for corporations is not the answer to the student debt crisis. Free or at least affordable college and debt forgiveness for current outrageous student loans is what we need. Helping average hardworking Americans does not have to be delivered in a package that gives more money to corporations. Invest in Americans and communities, not corporations.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedFebruary 7th, 2019
    I applaud the creativity of this bill in finding a way to use government funds to decrease the debt for students that are employed. It is one way to ensure that the employers who hire from the pool of US students actually foot the bill for their training, but do so through a set of incentives rather than being forced by regulations and oversight to comply with a federal law. It is our nature as Americans to resist being forced to do things that should clearly be choices we should make in our own best interests. Utilizing this important aspect of the American personality and business culture is a more effective way to ensure a positive outcome.
    Like (86)
    Follow
    Share
    Why don’t we give the tax break to the student instead of an employer. This would be fair to all students instead of a few students whose employer is kind enough to do so.
    Like (122)
    Follow
    Share
    I have to say no. Instead, tackle the source of the problem. The universities themselves! A serious problem for more than 40 years, charging insane tuition and raising their rates on average 17% year-over-year with zero oversight. Universities know they can get away with it because our system of student loan underwriting in this country allows and encourages them to do it. These schools are absolute thieves. Nothing more nothing less. You’re paying massive dollars with no guarantee whatsoever of improving your life by holding a degree!
    Like (53)
    Follow
    Share
    Another tax break for corporations is not the answer to the student debt crisis. Free or at least affordable college and debt forgiveness for current outrageous student loans is what we need. Helping average hardworking Americans does not have to be delivered in a package that gives more money to corporations. Invest in Americans and communities, not corporations.
    Like (44)
    Follow
    Share
    Why are we offering the tax break to the corporation? Why aren’t we are offering the tax break to the student? Corporations don’t need more tax breaks. There are a lot of things we should do to address student loan debt, but this is not one of them.
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    It’s a good thought, but this tax break ought to go to the student who is trying to better himself and definitely needs the tax break. No more tax breaks for corporations or the RICH.
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    Rather, you should pay people more to pay their own loans. Better yet, you should work go eliminate student debt nationally. It would spark the economy.
    Like (12)
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    Employer Participation in Repayment Act - Voluntary Not Mandatary I’d recommend this House bill H.R. 1403 AKA the Employer Participation in Repayment Act of 2019 which would expand the tax exclusion for employer-provided educational assistance to include payments of qualified education loans by an employer to either an employee or lender. This would apply to the first $5,250 of employer-provided student loan assistance money each year. I’d be in support of the Employer Participation in Repayment Act only if it were a Voluntary option and Not a Mandatary requirement for employers. It shouldn’t be a mandatory government bailout program for students who should retain their responsibility to pay 💰 off their own financial responsibilities. Student loan debt is a major financial burden for young workers, many of whom are struggling to repay their loans right out of school. There currently aren’t many employers offering student loan repayment assistance — but making student loan repayment assistance tax-free (up to $5,250 per employee each year) would increase employer interest in offering this particular benefit. SneakyPete..... 🤔🤷🏼‍♂️👍🏻🤷🏼‍♂️🤔. 3*1*19.....
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    It doesn’t solve the debt problem, just gives big business more tax breaks. MoCs need to keep their focus on solving the student debt problem.
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    Sure. This would be a great benefit to employees. It would also provide an opportunity to attract top talent to a company.
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    Yes and the Dept of Education should also narrow the list of qualifying “Universities” based on their student’s default rates as well as job placement rates.
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    Too many tax loopholes already. They will just find a way to abuse this.
    Like (6)
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    Hell no. People used to grow up in college and learn to take responsibility
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    The federal government should not be in the loaning business. Or a lot of the other things it is involved in. Shrink the federal government and give the power back to the people instead. WIN Win win
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    Going to school is a choice. Push schools to lower tuition costs, or follow a model that students only pay their debt once they get a job in their field ensuring schools give a hoot about their training, and most of all SCRAP core curriculum. I had to pay and take badminton for my physical education portion of general curriculum. It was such a joke. So was Spanish 2 years, so was art history - nothing pertaining to my supply chain degree and I don’t know a lick of Spanish - no one knows how to speak their foreign language they’re forced to take. It’s so irrational
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    Someone already thought is was a good idea to remove the ability to write off student loan interest on your taxes, so yes employers should be able to make tax free contributions to employees student load debt. Students are our real future, we should support them, not hinder them. As far as I’m concerned, student loans should be interest free, this should not be a money making business
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    I like the idea of giving a tax break to students or families of students for putting their child through college.
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    It is income and should be taxed as such.
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    This is not an answer to the student debt crisis. The fact is that the costs are outrageous and need to be controlled.
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    The tax credit should be going to the individual and not to companies. Although I like the thinking behind this, students in debt need the money that they paid to loans back (that's $400+ a month students could be making back). If this were a bill saying up to $5k used to pay student loans goes back into the pocket of students then I'd vote yes (it really needs to be all money paid to loans though..). But, this bill seems to give the excuse to companies to pay employees less so they can hold over the head of an employee that they are paying up to 5k a year to their student debt. Give the financial freedom back to students, trickle down economics doesn't work.
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