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II
116TH CONGRESS
2D SESSION
S. 3916
To amend the Internal Revenue Code of 1986 to increase the exclusion
for educational assistance programs.
IN THE SENATE OF THE UNITED STATES
JUNE 8, 2020
Mrs. LOEFFLER 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 increase
the exclusion for educational assistance programs.
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 ‘‘American Workforce
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Development Act’’.
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SEC. 2. INCREASE IN EXCLUSION FOR EDUCATIONAL AS-
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SISTANCE PROGRAMS.
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(a) IN GENERAL.—Paragraph (2) of section 127(a)
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of the Internal Revenue Code of 1986 is amended by strik-
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•S 3916 IS
ing ‘‘$5,250’’ each place it appears in the text and the
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heading and inserting ‘‘$11,500’’.
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(b) INFLATION ADJUSTMENT.—Section 127(c) of
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such Code is amended by adding at the end the following
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new paragraph:
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‘‘(8) INFLATION ADJUSTMENT.—
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‘‘(A) IN GENERAL.—In the case of any cal-
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endar year after 2019, each dollar amount in
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subsection (a)(2) shall be increased by an
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amount equal to—
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‘‘(i) such dollar amount, multiplied by
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‘‘(ii) the cost-of-living adjustment de-
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termined under section 1(f)(3) for the cal-
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endar year in which such taxable year be-
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gins by substituting ‘calendar year 2017’
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for ‘calendar year 2016’ in subparagraph
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(A)(ii) thereof.
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‘‘(B) ROUNDING.—If any increase deter-
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mined under subparagraph (A) is not a multiple
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of $50, such increase shall be rounded to the
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next lowest multiple of $50.’’.
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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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December 31, 2019.
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