[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3388 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 3388

    To amend the Internal Revenue Code of 1986 to increase and make 
       permanent the deduction for tuition and related expenses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 3, 2007

 Mrs. Gillibrand (for herself and Mr. Kuhl of New York) 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 increase and make 
       permanent the deduction for tuition and related expenses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``College Affordability Tax Relief Act 
of 2007''.

SEC. 2. DEDUCTION FOR TUITION AND RELATED EXPENSES INCREASED AND MADE 
              PERMANENT.

    (a) Increased Deduction.--Paragraph (2) of section 222(b) of the 
Internal Revenue Code of 1986 (relating to applicable dollar limit) is 
amended by striking subparagraphs (A) and (B) and by inserting the 
following new subparagraphs:
                    ``(A) In general.--For purposes of paragraph (1), 
                the applicable dollar amount shall be--
                            ``(i) $10,000 in the case of a taxpayer 
                        whose adjusted gross income for the taxable 
                        year does not exceed $50,000,
                            ``(ii) $6,000 in the case of a taxpayer 
                        whose adjusted gross income for the taxable 
                        year exceeds $50,000 but does not exceed 
                        $65,000,
                            ``(iii) $3,000 in the case of a taxpayer 
                        whose adjusted gross income for the taxable 
                        year exceeds $65,000 but does not exceed 
                        $80,000, and
                            ``(iv) zero in the case of a taxpayer whose 
                        adjusted gross income for the taxable year 
                        exceeds $80,000.
                    ``(B) Joint returns.--In the case of a joint 
                return, subparagraph (A) shall be applied by doubling 
                the adjusted gross income amounts otherwise applicable 
                thereunder for the taxable year.''.
    (b) Income Amounts Adjusted for Inflation.--Paragraph (2) of 
section 222(b) of such Code is amended by adding at the end the 
following new subparagraph:
                    ``(D) Income amounts adjusted for inflation.--In 
                the case of any taxable year beginning in a calendar 
                year after 2008, the $50,000, $65,000, and $80,000 
                amounts in subparagraph (A) shall be increased by an 
                amount equal to--
                            ``(i) such dollar amount, multiplied by
                            ``(ii) the cost-of-living adjustment 
                        determined under section 1(f)(3) for the 
                        calendar year in which the taxable year begins, 
                        determined by substituting `calendar year 2007' 
                        for `calendar year 1992' in subparagraph (B) 
                        thereof.
                Any increase determined under the preceding sentence 
                shall be rounded to the nearest multiple of $500.''.
    (c) Deduction Made Permanent.--
            (1) Section 222 of such Code is amended by striking 
        subsection (e) (relating to termination).
            (2) Title IX of the Economic Growth and Tax Relief 
        Reconciliation Act of 2001 shall not apply to the amendments 
        made by section 431 of such Act.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2007.
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