1. Short title
This Act may be cited as the “Student Loan Interest Deduction Fairness Act”.
Student Loan Interest Deduction Fairness Act
A BILL
To amend the Internal Revenue Code of 1986 to eliminate the marriage penalty in the dollar limitation on the student loan interest deduction.
2. Elimination of marriage penalty in dollar limitation on the student loan interest deduction
In general— Section 221(b)(1) of the Internal Revenue Code of 1986 is amended by striking “shall not exceed” and all that follows and inserting “shall not exceed $2,500 (twice such amount in the case of a joint return)”.
Effective date— The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.