Permanent Tax Exemption for Employer Student Loan Repayments.
This bill makes permanent the tax exclusion for employer payments towards employee student loans. This means that money employers contribute to help pay off student loans will not be considered taxable income for the employee, potentially easing the financial burden of education.
Key points
Employers can permanently contribute to student loan repayments without it being taxed as employee income.
Individuals with student loans may receive more financial assistance from employers, reducing their debt burden.
Introduced
Citizen Poll