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Student Loan Tax Relief: Deduct Interest Regardless of Employer Assistance.

This act aims to ease student loan repayment. It allows individuals to deduct interest paid on student loans from their taxes, even if their employer provided educational assistance. This could mean lower taxes for those repaying student debt.
Key points
You can deduct student loan interest from your taxes, even if your employer also contributed to your education.
This change could lower your taxable income, potentially freeing up more money for student loan repayment.
The new rules apply to tax years beginning after December 31, 2020.
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Additional Information
Print number: 117_HR_2983
Sponsor: Rep. Kinzinger, Adam [R-IL-16]
Process start date: 2021-05-04
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

REDUCE Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2983.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-04.

What are the main provisions?

Key points include:

  • You can deduct student loan interest from your taxes, even if your employer also contributed to your education.
  • This change could lower your taxable income, potentially freeing up more money for student loan repayment.
  • The new rules apply to tax years beginning after December 31, 2020.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Kinzinger, Adam [R-IL-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Education