[Congressional Record Volume 161, Number 158 (Tuesday, October 27, 2015)]
[House]
[Page H7197]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 FAIRNESS AND OPPORTUNITIES FOR MARRIED HOUSEHOLDS WITH STUDENT LOANS 
                                  ACT

  (Mr. MARCHANT asked and was given permission to address the House for 
1 minute.)
  Mr. MARCHANT. Mr. Speaker, student loan debt is now the fastest 
growing and second-largest type of household debt in America. It is no 
surprise that many Americans are putting off marriage and family life 
for financial reasons.
  The decline in marriage is a problem that could impact our economy 
and society for decades to come. Yet, our Tax Code punishes married 
households who have student debt. That is why I have introduced the 
Fairness and Opportunities for Married Households With Student Loans 
Act.
  Currently, an individual with student loans can deduct up to $2,500 
in interest paid on their loans, but that amount does not increase for 
married couples filing jointly. So spouses who both have student loan 
debt are limited to just one $2,500 deduction. This is not fair.
  My bill increases the deduction to $5,000 for married couples. It 
only makes sense. It also strengthens incentives toward marriage and 
financial independence.
  With student debt putting pressure on our economy, let's stop 
penalizing marriage and start helping families build a stronger future.

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