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Congressional Update – HELP for Students and Parents Act

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The bill below was recently introduced on Capitol Hill and it involves student loans. If you would like to learn more about the bill, please click the link below. But for now, here is a snippet from the bill.

HELP for Students and Parents Act

H.R. 5191 — Introduced

…of– “(1) 50 percent of the student loan repayment expenditures of the taxpayer for the taxable year, and “(2) 50 percent of the qualified dependent 529 contributions made by the taxpayer for the taxable year. “(b) Dollar Limitation.–The amount taken into account under each of paragraphs (1) and (2) with respect to any employee for any taxable year shall not exceed $5,250. “(c) Student Loan Repayment Expenditure.–For purposes of this section, the term `student loan repayment expenditure’ means

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