118 S3807 IS: Student Loan Deduction Act of 2024 U.S. Senate 2024-02-27 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.

II118th CONGRESS2d SessionS. 3807IN THE SENATE OF THE UNITED STATESFebruary 27, 2024Mr. Welch (for himself, Ms. Duckworth, Mrs. Shaheen, Mr. Booker, Mr. Padilla, Mr. Sanders, Mr. Wyden, and Mr. Blumenthal) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and ForestryA BILLTo amend the Food and Nutrition Act of 2008 to allow for deductions of student loan payments from income.

1.

Short title

This Act may be cited as the Student Loan Deduction Act of 2024.

2.

Deduction for student loan payments

Section 5(e) of the Food and Nutrition Act of 2008 (7 U.S.C. 2014(e)) is amended by adding at the end the following:(7)

Deduction for student loan payments

(A)

Definition of student loan

In this paragraph, the term student loan means any of the following:(i)A loan that is made, insured, or guaranteed under title IV of the Higher Education Act of 1965 (20 U.S.C. 1070 et seq.).(ii)A private education loan (as defined in section 140(a) of the Truth in Lending Act (15 U.S.C. 1650(a))).(B)

Deduction

Beginning 180 days after the date of enactment of this paragraph, a household shall be entitled, at certification or recertification, as applicable, with respect to expenses other than expenses paid on behalf of the household by a third party, to a deduction for the amount of monthly payments made by a household member on a student loan of that household member or any other household member..