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senate Bill S. 2347

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

Argument in favor

Student loan debt is a growing problem in the U.S., and it’s making it harder for recent graduates to get ahead, start saving for the future, and secure their financial futures. Employers who want to help their employees with student loan debt should be incentivized to do so.

SneakyPete's Opinion
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09/02/2019
Pass Senate Bill S.2347 aka Student Loan Repayment Acceleration Act I’m in support of this Senate Bill This Senate bill — the Student Loan Repayment Acceleration Act which would exclude employer contributions to student loan repayments from business income for tax purposes. It’d allow employers to make contributions of up to $10,000 a year towards each employee’s student loan debt free from payroll, income, and federal unemployment tax. Employers would be free to choose from a variety of ways to structure these payments, including simply making the payment or requiring the employee to make a payment that the employer “matches” (similar to 401K matches). Student loan debt is a growing problem in the U.S., and it’s making it harder for recent graduates to get ahead, start saving for the future, and secure their financial futures. Employers who want to help their employees with student loan debt should be incentivized to do so. SneakyPete.......... 👍🏻👍🏻👍🏻👍🏻👍🏻. 9.1.19..........
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Gennaro's Opinion
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09/02/2019
Why not as employers and citizens at large gain when students become productive tax paying members of society who might otherwise be on the welfare rolls .
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Bob's Opinion
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09/02/2019
Yes, and every other transaction they make should be tax-free, too.
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Argument opposed

This legislation would likely have a major impact on federal tax revenue. Given that the country is already in a budget deficit, it’d be fiscally irresponsible to extend tax concessions to businesses simply for helping pay down student debt.

Julie's Opinion
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09/01/2019
No. We need Corporations to pay their part of the National debt not simply transfer money from one corporate interests to another. We need them to pay for our roads, schools and the like. this simply weakens our government making it less capable to do the public good.
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burrkitty's Opinion
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09/02/2019
Why did corporations get a better deal than the students themselves? Why are you enhancing another way for corporations to own people? No! Do not vote for this. If you wanna help the problem of student loan debt, help the students. This country is supposed to be for “the people” not for the corporations. CORPORATIONS ARE NOT PEOPLE!
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jimK's Opinion
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09/02/2019
No. This is way too open for abuse. Employers do this now, but without the tax breaks. I can imagine all kinds of ways that this can be schemed so that employer’s kids, pseudo self-employed and rich-kids can in-effect get interest-free student loans. The alternative structuring provisions of such employer paid benefits could effectively make it very difficult to spot abuse. Finally, it could be used to effectively entrap those employees in positions without realistic employer-experience related wage growth- which would limit their earnings potential if seeking alternative employment. A more realistic and equitable plan would be for an individual student’s debt repayment (up to some limit) to be deducted from their personal income for their personal tax filing; and no tax breaks for employers. This would benefit loan holders directly in a simple straight forward manner and be more difficult to find schemes for abuse.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Finance
    IntroducedJuly 31st, 2019
    Pass Senate Bill S.2347 aka Student Loan Repayment Acceleration Act I’m in support of this Senate Bill This Senate bill — the Student Loan Repayment Acceleration Act which would exclude employer contributions to student loan repayments from business income for tax purposes. It’d allow employers to make contributions of up to $10,000 a year towards each employee’s student loan debt free from payroll, income, and federal unemployment tax. Employers would be free to choose from a variety of ways to structure these payments, including simply making the payment or requiring the employee to make a payment that the employer “matches” (similar to 401K matches). Student loan debt is a growing problem in the U.S., and it’s making it harder for recent graduates to get ahead, start saving for the future, and secure their financial futures. Employers who want to help their employees with student loan debt should be incentivized to do so. SneakyPete.......... 👍🏻👍🏻👍🏻👍🏻👍🏻. 9.1.19..........
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    No. We need Corporations to pay their part of the National debt not simply transfer money from one corporate interests to another. We need them to pay for our roads, schools and the like. this simply weakens our government making it less capable to do the public good.
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    Why did corporations get a better deal than the students themselves? Why are you enhancing another way for corporations to own people? No! Do not vote for this. If you wanna help the problem of student loan debt, help the students. This country is supposed to be for “the people” not for the corporations. CORPORATIONS ARE NOT PEOPLE!
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    No. This is way too open for abuse. Employers do this now, but without the tax breaks. I can imagine all kinds of ways that this can be schemed so that employer’s kids, pseudo self-employed and rich-kids can in-effect get interest-free student loans. The alternative structuring provisions of such employer paid benefits could effectively make it very difficult to spot abuse. Finally, it could be used to effectively entrap those employees in positions without realistic employer-experience related wage growth- which would limit their earnings potential if seeking alternative employment. A more realistic and equitable plan would be for an individual student’s debt repayment (up to some limit) to be deducted from their personal income for their personal tax filing; and no tax breaks for employers. This would benefit loan holders directly in a simple straight forward manner and be more difficult to find schemes for abuse.
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    Why should it be tax free. The employer will probably add it into your salary anyways. Graduates who find a good job can not deduct the interest on their loans so why should employers get a better deal than the graduate.
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    First and foremost, corporations and companies needs to have their fancy tax cut revoked and raised to at least 45% with out loopholes! This country is in desperate need of infrastructure and at the rate trump is throwing the U.S. in debt and his (easy) tariffs war, college may not even be a option unless you come from the top1%.
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    Gardner’s running for re-election so take this bill in that context. It looks to be aimed more at the wealthy and privileged than at common people. On the surface it may look good but will not benefit the people who need it most.
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    This is just another Republican ploy to reduce Corporate taxes for the benefit of executives and shareholders without any actual concern for employees well-being. Republicans are just using employees as a vehicle to get more profits for executives and shareholders, just like they have done with employees compensation, healthcare coverage and other benefits. Why not just provide a share of the profit that employees generated and have created the largest GDP value in history, so the employees can afford to pay off their debts?
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    Enough with the special tax schemes. It’s time to rid ourselves of income tax and require the government to generate revenue by legitimate means just like every other sovereign individual.
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    Student Loan Repayment Acceleration Act — would exclude employer contributions to student loan repayments from business income for tax purposes. More tax breaks for the well off to help friends and family.
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    Cancel Student Debt
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    Nope, not backing anything the Repugnants bring forth. Corporations will use this as leverage keeping employees wages stagnant for those who take advantage of this proposed program. Either debt forgiveness or interest rates that are locked at interest rates the FED loans money to banks at 2.25%-2.5%.
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    No
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    When a present day Corporate politician , Whether he or she is Republican or Democrat, it is important to ask ourselves how the bill denies the economy further payment of corporations fair share of taxes to create a 21 first century infrastructure for a more pollution free economy that prepares us for the future! This bill is another tax break for the billionaire class! Any present contribution to student loan is already a corporate expense! Let’s make corporations pay their fair share!! Let’s make billionaires pay their fair share. Let’s stop increasing corporate subsidized wars that only benefit the billionaire class! Let’s bring our children home from wars and conflicts and use the savings on free education thru college ,Medicare for all, paid vocational training, and a safety net of Social Security that rivals the best social programs bar none!!
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    Essentially creating indentured servants to poorly paid jobs and/or unfair employers. Young people shouldn't have to "visit the crossroads" at midnight to get an education.
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    No. We need Corporations to pay their part of the National debt not simply transfer money from one corporate interests to another. We need them to pay for our roads, schools and the like. this simply weakens our government making it less capable to do the public good.
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    Not only more tax breaks for corporations and the wealthy but another way to lower the salaries of workers
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    It’s the people carrying the debt that need help, not the businesses who got the lion’s share of the republican tax bill. Quit trying to package tax relief for the wealthy as help for the working man and woman! Cory Gardner has got to go!!!
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    There may be something here. But tax free is not the solution, tax deferred may be worth talking about. My 401k is not tax free, my IRA is not tax free. Additionally, we need to do something to manage the price of a college education. The quality of the education grows progressively worse while growing exponentially more expensive.
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    An ever growing list of trumps accomplishments and of those in congress who support him: Most recent: Offering pardons to those who would break federal law in order to help him win re-election. Thinks nuking a hurricane is an idea. His own company would save millions from the low interest rates he is demanding. Was going to give you tax cuts but decided not to. Destroying the economy with HIS trade war. We will soon average a 1.2 trillion deficit. He is repeating NRA talking points on background checks so expect no action taken regardless of the fact there has been 27 arrested over threats to commit mass attacks since El Paso( NOT TOLEDO). Made fun of republicans being afraid of the NRA and then caved after a 30 minute phone conversation with them. Bragged about indefinite child detention because it brings families together. Refusing flue shots, that protect us all(google influenza pandemic), to immigrant children. Attacking fellow congresswomen in really disgusting ways and making anti-Semitic remarks about Jews calling them disloyal. Thinks he’s the chosen one based on a conspiracy theory web sight. Impeachment: Obstruction of Justice. Profiting from the Presidency. Collusion - They had a meeting & lied about it. Advocating political & police violence. Abuse of power. Engaging in reckless behavior. Persecuting political opponents. Attacking the free press. Violating immigrants Right to Due Process. Violating campaign finance laws. Racist: Speaks directly to and often tweeting straight from white supremacists. Calls them very fine people. Told fellow congresswomen to go back where they came from. Called them shit hole countries. Called them murderers and rapists. Calls her Pocahontas. Took out full page adds calling for the death of five innocent black kids in New York, 1989. Literally has said in an interview he has Hitlers speeches, My New Order in his nightstand. Our Money: Spent campaign finance money on hush payments to silence a porn star he had an affair with in order to hide it from the voters. Has spent over $100 million of our tax dollars playing golf at his own golf courses. Has never divested from companies and advertises and profits off the White House. Was going to cut Medicaid and Medicare funding to pay for the tax cuts he gave to the rich. Is actively destroying farmers lives with his trade wars that we all know only hurts our pockets not Chinas. Has made the lives of every truck driver across America as well as our own, more dangerous by removing safety regulations that only benefits the pockets of the CEOs of those companies. Has removed any and all protections we had in place from work safety, environment, women’s rights, LGBTQ rights and gives that power back to the CEOs, oil companies, men and old white men. Saudi funded lobbyist rented 500 rooms at a trump hotel he never divested from right after he became president. Wonder why? Sexual Predator: Accused by more than 20 women of molestation and rape. Bragged about said molestation on tape. Has cheated on all three wives (see above). Has made sexual remarks on camera about his daughter. Belittles and bully’s strong women. Not even sure he’s aware he has two daughters. Idiot: Took the side of Putin over America’s own security agencies on the national stage. Lacks the intelligence and facts needed to communicate on a global level much less national one. Makes policy decisions based on FOX media. Lies when speaks. Doesn’t believe in science and quite often displays his ignorance of it. Russia: Lied about meetings with Russians. Lied about a trump tower Moscow. Personal attorney Michael Cohen (same guy who broke campaign finance laws under trumps direction) had contacts with russian officials. National Security aide Flynn resigned over Russian contacts. Jeff Sessions recused himself because of Russian contacts. Manafort resigned because of Russian contacts. Campaign foreign policy adviser Papadopoulos met with Russians then bragged about it to Australians who then turned that info over to our FBI. Sixteen campaign officials had contacts with Russia and at least nine others new about it. Russian mobster lived in trump tower. trump casino was flagged 106 times for lax money laundering standards and same Russian frequently stayed at trump casino. Has been selling real estate to Russians for years. It really is surprising how many connections to Russians this man has. Rick Scott, Marco Rubio, Bill Posey You are my representatives. OLC policy: The indictment or criminal prosecution of a sitting President would unconstitutionally undermine the capacity of the executive branch to perform its constitutionally assigned functions. It’s time to do your job. You swore an oath to this country, it’s people and me to uphold the constitution. The president has never upheld that oath. How do you want to be remembered?
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