A Republican Congressperson, significant, because
Republicans have a big majority, has introduced
a bill that provides student loan relief, in a new way.
Timothy Todd of Forbes reports:
In particular, marketplace would exclude from gross income amounts paid as \”qualified student loan payment assistance,\” how the bill defines as \”amounts paid or suffered by an employer under a plan for the exclusive benefit to the employees of the employer to supply such employees with student loan payment assistance.\”
The bill gives a taxable year limit of $10,000.
What should be to like about this?
Well, it keeps taxpayers off the hook.? The direct hook, that could be.
To the extent it reduces tax liability to your employer, that increases taxes through us.
It might make the difference between a manager hiring someone, and not hiring someone, so could add jobs.
Although, when you\’ve got a job, you are usually not while in the group that most needs education loan relief.
This being an election year, the political class is busy keeping their positions, or aiming to move up, so expect nothing for this for 2016.
Of course, I agree together with conclusion:
With many options and programs around, navigating student loan repayment options in addition to their attendant tax consequences is not a easy task. Be sure to discuss this vital issue with your financial professional.
How do you really spell student loan relief??? O-K-E-