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..........