Student Loan Marriage Penalty Elimination Act of 2025

119 HR 3285 IH: Student Loan Marriage Penalty Elimination Act of 2025 U.S. House of Representatives 2025-05-08 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 3285 IN THE HOUSE OF REPRESENTATIVES May 8, 2025 Mr. Grothman (for himself, Mrs. Miller of Illinois , Ms. DelBene , Mr. Davis of Illinois , Mr. Clyde , Mr. Larson of Connecticut , Mr. McCormick , Mr. Mullin , Mr. Rouzer , and Mr. Rulli ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow married couples to apply the student loan interest deduction limitation separately to each spouse, and for other purposes. 1. Short title This Act may be cited as the Student Loan Marriage Penalty Elimination Act of 2025 . 2. Student loan interest deduction limitation applied separately to each spouse (a) In general Section 221(b)(1) of the Internal Revenue Code of 1986 is amended to read as follows: (1) In general The interest taken into account with respect to a taxpayer for a taxable year under subsection (a) for indebtedness incurred by an individual shall not exceed $2,500. . (b) Conforming amendments Section 221 of such Code is amended— (1) in subsection (b), by striking the heading and inserting Dollar limitations , and (2) by amending subsection (e) to read as follows: (e) Denial of double benefit No deduction shall be allowed under this section for any amount for which a deduction is allowable under any other provision of this chapter. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2024.