3.0.0 7114 2022-02-08T23:16:58Z 2022-02-08T23:16:58Z House HR 2020-06-04 116 [Congressional Record Volume 166, Number 104 (Thursday, June 4, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. STIVERS:H.R. 7114.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause IThe Congress shall have Power to lay and collect Taxes,Duties, Imposts and Excises, to pay the Debts and provide forthe common Defence and general welfare of the United States;but all Duties, Imposts and Excises shall be uniformthroughout the United States.[Page H2368]]]> hswm00 Ways and Means Committee House Standing Referred to 2020-06-04T14:03:25Z hsed00 Education and the Workforce Committee House Standing Referred to 2020-06-04T14:03:20Z 2020-06-04 Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2020-06-04 Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2020-06-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-06-04 Introduced in House IntroReferral 1000 9 Library of Congress S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 N R000602 Rep. Rice, Kathleen M. [D-NY-4] Kathleen Rice D NY M. 4 2020-06-04 True G000583 Rep. Gottheimer, Josh [D-NJ-5] Josh Gottheimer D NJ 5 2020-10-01 False Education Cardiovascular and respiratory health Emergency medical services and trauma care Employee benefits and pensions Government lending and loan guarantees Higher education Income tax exclusion Infectious and parasitic diseases Interest, dividends, interest rates Student aid and college costs Education 00 2020-06-04 Introduced in House 2021-02-02T17:05:47Z Economic and Student Loan Debt Relief Act of 2020

This bill extends the suspension of payments on student loans held by the Department of Education (ED). It also generally allows for an exclusion from taxable income of employer payments of student loans.

Specifically, the bill requires ED to suspend all payments due on Federal Direct Loans and Federal Family Education Loans held by ED through December 31, 2020. (Currently, this suspension period ends on September 30, 2020). Normal payment obligations and interest accrual resume at the end of this period.

Additionally, ED must carry out a program, beginning on November 1, 2020, to provide at least six notices to borrowers that normal payment obligations will resume. (Currently, this program begins on August 1, 2020.)

The bill also generally provides a permanent exclusion from employee income, for income tax purposes, of employer payments of student loans. (Currently, this exclusion from income is only for payments of student loans made before January 1, 2021.)

]]> Economic and Student Loan Debt Relief Act of 2020 Display Title Economic and Student Loan Debt Relief Act of 2020 Official Title as Introduced To extend and clarify relief to Federal student loan borrowers, and for other purposes. Introduced in House IH Short Title(s) as Introduced Economic and Student Loan Debt Relief Act of 2020 Introduced in House IH Introduced in House 2020-06-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7114ih/xml/BILLS-116hr7114ih.xml 2020-06-04 Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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.