A bill to amend the Internal Revenue Code of 1986 to restore the deduction for interest paid on education loans and to exclude from gross income the portion of a scholarship which covers living expenses while away from home.

Summary

Amends the Internal Revenue Code to allow an income tax deduction for interest on a qualified educational loan incurred to pay the educational expenses (tuition, fees, books, supplies, reasonable living expenses) of the taxpayer, spouse, or dependent. Permits an exclusion from gross income of scholarship amounts used for a student's reasonable living expenses while attending school away from home.

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Timeline

1. 14 July 1988

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 14 July 1988

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 July 1988

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 14 July 1988

  Open at official source

Sponsors

• Rep. Solomon, Gerald B. H. [R-NY-22] · R · Sponsor
• Rep. Gray, Kenneth J. [D-IL-22] · D · Sponsor
• Rep. Collins, Cardiss [D-IL-7] · D · Sponsor
• Del. de Lugo, Ron [D-VI-At Large] · D · Sponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Sponsor
• Rep. Dornan, Robert K. [R-CA-46] · R · Sponsor
• Rep. Bentley, Helen Delich [R-MD-2] · R · Cosponsor
• Rep. Lightfoot, Jim [R-IA-3] · R · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• Rep. Evans, Lane [D-IL-17] · D · Cosponsor
• Rep. Lagomarsino, Robert J. [R-CA-19] · R · Cosponsor
• · hswm00 · Standing

Related records

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