Bill Details
S.772 - 119th Congress
Status
Latest action
2025-02-27 - Read twice and referred to the Committee on Finance.
Introduced Date
2025-02-27
Policy Area
Taxation
Committees
View committees (1)
Sponsors
Cosponsors
View cosponsors (1)
5
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would make a current tax break permanent for employer help with student loan payments. Right now, employers can offer student loan repayment assistance through certain education aid programs without that payment being treated as taxable income, but that rule is set to expire. If this bill becomes law, that benefit would no longer have an end date, so employers could keep offering this kind of help and workers could keep receiving it tax-free under the same rules.
- The bill removes the current deadline of January 1, 2026, from the tax code rule covering employer-paid student loan assistance.
- The change would apply to payments made after the law is enacted.
- The goal is to encourage employers to keep helping workers pay down student debt as part of educational assistance programs.
Official Summaries
No summaries available
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 772 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
1st Session
S. 772
To amend the Internal Revenue Code of 1986 to make the exclusion for
certain employer payments of student loans under educational assistance
programs permanent.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
February 27, 2025
Mr. Warner (for himself and Mr. Thune) introduced the following bill;
which was read twice and referred to the Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to make the exclusion for
certain employer payments of student loans under educational assistance
programs permanent.
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 ``Employer Participation in Repayment
Act''.
SEC. 2. EXCLUSION FOR CERTAIN EMPLOYER PAYMENTS OF STUDENT LOANS UNDER
EDUCATIONAL ASSISTANCE PROGRAMS MADE PERMANENT.
(a) In General.--Section 127(c)(1)(B) of the Internal Revenue Code
of 1986 is amended by striking ``in the case of payments made before
January 1, 2026,''.
(b) Effective Date.--The amendment made by this section shall apply
to payments made after the date of the enactment of this Act.
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