A bill to amend the Internal Revenue Code of 1986 to increase the deduction for qualified higher education expenses to $10,000, and for other purposes.

Summary

Amends the Internal Revenue Code to change the permitted deduction for qualified higher education tuition and related expenses to: (1) $10,000 in the case of a taxpayer whose adjusted gross income is $65,000 or less ($130,000 in the case of a joint return); and (2) $5,000 in the case of a taxpayer earning above $65,000 up through $80,000 ($160,000 in the case of a joint return). Applies this Act to payments made after December 31, 2001 (present law allows deductions of between $2,000 to $4,000 through 2005).

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Timeline

1. 1 August 2002

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 1 August 2002

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 August 2002 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 August 2002

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 August 2002

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 August 2002

  Open at official source

Sponsors

• Rep. Torricelli, Robert G. [D-NJ-9] · D · Sponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.