- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedFebruary 7th, 2019
- house Committees
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.
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.