Upward Mobility Enhancement Act

Summary

Upward Mobility Enhancement Act This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee. The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, and (2) requires the $11,500 amount to be adjusted for inflation after 2017. (Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)

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Timeline

1. 25 October 2017

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 25 October 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 25 October 2017 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 October 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 October 2017

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 October 2017

  Open at official source

Sponsors

• Sen. Flake, Jeff [R-AZ] · R · Sponsor
• Catherine Cortez Masto · D · Sponsor
• Amy Klobuchar · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Stronger Way Act
• related to ← Upward Mobility Enhancement Act