S. 759 · 109th Congress
Make College Affordable Act of 2005
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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
SchumerSponsor7 cosponsors · 5 D, 2 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Make College Affordable Act of 2005 - Amends the Internal Revenue Code to: (1) increase the amount of the tax deduction for higher education tuition and related expenses; and (2) allow a tax credit for up to $1,500 of the interest paid annually on certain student loans for higher education expenses.
What it does: CRS summary · Introduced in Senate · Apr 11, 2005
Make College Affordable Act of 2005 - Amends the Internal Revenue Code to: (1) increase the amount of the tax deduction for higher education tuition and related expenses; and (2) allow a tax credit for up to $1,500 of the interest paid annually on certain student loans for higher education expenses. Reduces the allowable amount of both the tax deduction and the tax credit based upon taxpayer adjusted gross income levels. Provides for an inflation adjustment for calendar years after 2005 to such adjusted gross income levels.
Makes the tax deduction for higher education tuition and related expenses permanent.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Make College Affordable Act of 2005
Latest action (Jul 1, 2005): Referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Apr 11, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.