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United States · Bill · S

S. 628 (100th)

A bill to amend the Internal Revenue Code of 1986 to restore the deduction for interest on educational loans.

Original

openUnited States· United States Congress· EN

Introduced

3 March 1987

Last action

15 March 1988 · Committee

Status

Committee on Finance. Hearings held.

Sponsors

Rep. Grassley, Chuck [R-IA-3], Sen. Danforth, John C. [R-MO], Sen. D'Amato, Alfonse [R-NY], Sen. Kerry, John F. [D-MA], Sen. Durenberger, Dave [R-MN], Sen. Hecht, Chic [R-NV], Sen. Boren, David L. [D-OK], Sen. Helms, Jesse [R-NC], Rep. Cochran, Thad [R-MS-4], Sen. Bingaman, Jeff [D-NM], Sen. Glenn, John H., Jr. [D-OH], Rep. Symms, Steven D. [R-ID-1], Sen. Wilson, Pete [R-CA], Sen. Stevens, Ted [R-AK]

Subjects

Taxation

Source updated

14 January 2025

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to allow an income tax deduction for interest paid or incurred on a qualified educational loan. Defines "qualified educational loan" as any indebtedness incurred to pay the educational expenses of the taxpayer or the taxpayer's spouse or dependent. (Present law requires that such a loan be secured by an interest in real property.)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 3 March 1987

    Introduced

    Introduced in Senate

    Source: IntroReferral

  2. 3 March 1987

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  3. 15 March 1988

    Committee

    Committee on Finance. Hearings held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Sponsors

Related records

Sources

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