3.0.0 4135 2023-01-11T13:38:22Z 2023-01-11T13:38:22Z House HR 2017-10-25 115 [Congressional Record Volume 163, Number 172 (Wednesday, October 25, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SMITH of Missouri:H.R. 4135.Congress has the power to enact this legislation pursuantto the following:Article I , Section 8, clause 1 provides Congress with thepower to ``lay and collect Taxes, Duties, Imposts andExcises'' in order to ``provide for the . . . general Welfareof the United States.''[Page H8226]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-10-25T14:02:25Z Upward Mobility Enhancement Act 115 2007 S 2017-10-25 Read twice and referred to the Committee on Finance. Related bill CRS Stronger Way Act 115 1938 S 2017-10-05 Read twice and referred to the Committee on Finance. Related bill CRS 2017-10-25 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-10-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-10-25 Introduced in House IntroReferral 1000 9 Library of Congress S001195 Rep. Smith, Jason [R-MO-8] Jason Smith R MO 8 N C001063 Rep. Cuellar, Henry [D-TX-28] Henry Cuellar D TX 28 2017-10-25 True D000619 Rep. Davis, Rodney [R-IL-13] Rodney Davis R IL 13 2017-10-25 True D000617 Rep. DelBene, Suzan K. [D-WA-1] Suzan DelBene D WA K. 1 2017-10-25 True D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2017-10-25 True S001191 Rep. Sinema, Kyrsten [D-AZ-9] Kyrsten Sinema D AZ 9 2017-11-08 False K000381 Rep. Kilmer, Derek [D-WA-6] Derek Kilmer D WA 6 2017-11-21 False E000215 Rep. Eshoo, Anna G. [D-CA-18] ANNA ESHOO D CA G. 18 2017-11-29 False Taxation Employee benefits and pensions Income tax exclusion Inflation and prices Student aid and college costs Taxation 00 2017-10-25 Introduced in House 2017-11-20T16:03:58Z Upward Mobility Enhancement Act

This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee.

The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, in the case of assistance for education below the graduate level; and (2) requires the dollar amount to be adjusted for inflation after 2017.

(Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)

]]> Upward Mobility Enhancement Act Display Title Upward Mobility Enhancement Act Short Titles as Introduced Upward Mobility Enhancement Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to increase the exclusion for educational assistance programs. Introduced in House 2017-10-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr4135ih/xml/BILLS-115hr4135ih.xml 2017-10-25 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.