H.R. 4837 · 109th Congress
Affordable College Education Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LofgrenSponsorNo cosponsors.
Affordable College Education Act of 2006 - Amends the Internal Revenue Code to modify the tax deduction for higher education expenses by: (1) increasing the types of higher education expenses eligible for the deduction (2) eliminating the dollar limitations on the deduction; and (3) making the deduction permanent.
What it does: CRS summary · Introduced in House · Mar 1, 2006
Affordable College Education Act of 2006 - Amends the Internal Revenue Code to modify the tax deduction for higher education expenses by: (1) increasing the types of higher education expenses eligible for the deduction (2) eliminating the dollar limitations on the deduction; and (3) making the deduction permanent.
Increases from $50,000 to $350,000 the modified adjusted gross income ceiling used to calculate the phaseout of the tax deduction for interest on education loans. Adjusts such ceiling for inflation after 2006.
Makes the sunset provision (i.e., termination date of December 31, 2010) under the Economic Growth and Tax Relief Reconciliation Act of 2001 inapplicable to: (1) the elimination of certain limitations on the tax deduction for interest on education loans; and (2) the tax deduction for qualified tuition and related expenses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Affordable College Education Act of 2006
Latest action (Mar 1, 2006): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 1, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.