3.0.0 4837 2023-01-13T04:49:00Z 2023-01-13T04:49:00Z House H HR 2006-03-01 109 hswm00 Ways and Means Committee House Standing Referred to 2006-03-01T15:01:30Z 2006-03-01 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2006-03-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2006-03-01 Introduced in House IntroReferral 1000 9 Library of Congress L000397 Rep. Lofgren, Zoe [D-CA-16] ZOE LOFGREN D CA 16 N Taxation College costs Congress Economics and Public Finance Education Finance and Financial Sector Higher education Income tax Indexing (Economic policy) Interest Student loan funds Sunset legislation Tax deductions Taxation 00 2006-03-01 Introduced in House 2006-04-01T17:43:02Z 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.

]]> Affordable College Education Act of 2006 Display Title Affordable College Education Act of 2006 Official Title as Introduced To amend the Internal Revenue Code of 1986 to expand the tax incentives for higher education. Introduced in House IH Short Titles as Introduced Affordable College Education Act of 2006 Introduced in House 2006-03-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr4837ih/xml/BILLS-109hr4837ih.xml 2006-03-01 Referred to the House Committee on Ways and Means. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.