STEM K to Career Act

Summary

STEM K to Career Act This bill provides for loan forgiveness and tax credits related to science, technology, engineering, or mathematics (STEM) education and addresses work-study for students employed in STEM fields. The bill requires the Department of Education to forgive student loan obligations of borrowers employed as full-time teachers of STEM in elementary or secondary schools in which the number of low-income children exceeds a certain percentage. Portions of the student loan debt, including interest, shall be forgiven on the basis of years of service, with 100% forgiven for five years of teacher service. The bill allows (1) an increased tax deduction for expenses of elementary and secondary school teachers for STEM education supplies; (2) a tax credit for the employment of STEM interns; and (3) a tax credit for employment of individuals who participated in an apprenticeship program in a STEM field, with the amount determined according to the degree of completion of the program. Beginning with FY2022, an institution of higher education must use at least 7% of federal work-study funds to compensate students employed in STEM fields.

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Timeline

1. 27 July 2021

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 27 July 2021

   Introduced

   Sponsor introductory remarks on measure. (CR H3920)

   Source: IntroReferral

3. 27 July 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 27 July 2021

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 27 July 2021 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 July 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 July 2021

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 July 2021

  Open at official source

Sponsors

• Eric Swalwell · D · Sponsor
• Rep. Khanna, Ro [D-CA-17] · D · Sponsor
• Rep. Beatty, Joyce [D-OH-3] · D · Cosponsor
• Charlie Crist · D · Cosponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

• related to ← STEM K to Career Act