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I
116TH CONGRESS
1ST SESSION H. R. 3098
To amend the Internal Revenue Code of 1986 to increase the deduction
allowed for student loan interest.
IN THE HOUSE OF REPRESENTATIVES
JUNE 4, 2019
Mr. SWALWELL of California (for himself, Mr. KHANNA, Ms. ESHOO, Mr.
PETERS, Mr. VARGAS, Mrs. NAPOLITANO, Mr. PAYNE, Miss RICE of New
York, Ms. LEE of California, Mr. QUIGLEY, Mr. ENGEL, Ms. BARRAGA´N,
Ms. ROYBAL-ALLARD, Mr. JOHNSON of Georgia, Ms. MOORE, Ms. MENG,
Mrs. WATSON COLEMAN, Mr. THOMPSON of Mississippi, Mr. VEASEY,
Mr. COHEN, and Ms. KAPTUR) introduced the following bill; which was
referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase
the deduction allowed for student loan interest.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Student Loan Interest
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Deduction Act of 2019’’.
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•HR 3098 IH
SEC. 2. INCREASE IN DEDUCTION FOR STUDENT LOAN IN-
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TEREST.
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(a) INCREASE IN DOLLAR LIMITATION AND REPEAL
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OF LIMITATION BASED ON INCOME.—Section 221(b) of
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the Internal Revenue Code of 1986 is amended to read
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as follows:
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‘‘(b) MAXIMUM DEDUCTION.—The deduction allowed
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by subsection (a) for the taxable year shall not exceed
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$5,000 ($10,000 in the case of a joint return).’’.
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(b) CONFORMING AMENDMENTS.—Section 221 of
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such Code is amended by striking subsections (e) and (f)
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(relating to special rules and inflation adjustments, re-
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spectively) and inserting the following new subsection:
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‘‘(e) DENIAL OF DOUBLE BENEFIT.—No deduction
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shall be allowed under this section for any amount for
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which a deduction is allowable under any other provision
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of this chapter.’’.
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(c) EFFECTIVE DATE.—The amendments made by
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this section shall apply to taxable years beginning after
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the date of the enactment of this Act.
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Æ
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