H.R. 2363, The Generating Opportunity by Forgiving Educational Debt for Service Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

Version saved on August 2, 2007, 02:46:53, by webmaster:

H.R. 2363 would amend the Internal Revenue Code of 1986 to exclude from gross income amounts paid on behalf of Federal employees and members of the Armed Forces on active duty under Federal student loan repayment programs.

Detailed Summary

Generating Opportunity by Forgiving Educational Debt for Service Act of 2007 - Amends the Internal Revenue Code to exclude from gross income student loan repayments by the federal government on behalf of federal employees and members of the Armed Forces on active duty. Exempts such repayments from social security taxes.

Status of the Legislation

Latest Major Action: 5/17/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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