Fond Du Lac Times

Representatives Glenn Grothman (R-WI), Suzan DelBene (D-WA), Mary Miller (R-IL), and Danny K. Davis (D-IL) have introduced the Student Loan Marriage Penalty Elimination Act, a bipartisan bill aimed at amending the tax code to protect marriage by ensuring that student loan interest is tax-deductible for each spouse independently. The bill has gained support from various organizations, including the National Taxpayers Union, the Congressional Family Caucus, the Family Research Council, and Third Way.

The Student Loan Marriage Penalty Elimination Act has garnered significant bipartisan support, with 12 additional cosponsors from both sides of the aisle. These cosponsors include Representatives Troy Carter (D-LA), Josh Gottheimer (D-NJ), Debbie Lesko (R-AZ), Sheila Jackson Lee (D-TX), Greg Steube (R-FL), Jake LaTurner (R-KS), Terri Sewell (D-AL), Eric Swalwell (D-CA), Matt Gaetz (R-FL), Jimmy Gomez (D-CA), Salud Carbajal (D-CA), and David Trone (D-MD).

Representative Grothman, one of the bill's main sponsors, emphasized the need to rectify the current system, stating, "When it comes to deducting student loan interest, as with so many areas, the government is discouraging marriage. I’m proud to introduce the Student Loan Marriage Penalty Elimination Act to alleviate American households of an unnecessary marriage penalty in the arena of student loans." He further explained that the bill aims to address the disparity between the deductions available to unmarried individuals versus married couples.

Currently, individuals filing taxes separately can each deduct up to $2,500 in student loan interest, totaling a potential deduction of $5,000 for an unmarried couple with student loans. However, the current tax law restricts married couples from taking the same deduction and only allows a maximum combined deduction of $2,500. The Student Loan Marriage Penalty Elimination Act seeks to change this by allowing married couples filing joint tax returns to apply the $2,500 limitation on the tax deduction for student loan interest separately to each spouse, enabling them to receive a maximum of $5,000 in deductions.

The bill's supporters argue that this change is necessary to alleviate the financial burden faced by married couples with student loans and to promote marriage as a fundamental institution. Representative Davis emphasized the importance of higher education in achieving economic security, stating, "Higher education is a critical path to economic security. I am proud to join my colleagues in leading this bill that would double the student loan interest deduction for married couples filing jointly."

Chairwoman of the Congressional Family Caucus, Representative Miller, highlighted the need to support young couples and families, stating, "The government has a compelling interest to promote strong, healthy families, and we shouldn’t be penalizing young couples for getting married." Representative DelBene echoed this sentiment, noting that the bill is a step in the right direction to help families burdened by student loan debt.

The National Taxpayers Union (NTU) has also expressed its support for the Student Loan Marriage Penalty Elimination Act. Nicholas Johns, Senior Policy and Government Affairs Manager at NTU, stated, "This commonsense legislation will remove the undue burden that current law places upon borrowers that become married. By rectifying this issue, married borrowers will no longer be penalized in their taxes simply because of marital status."

The Student Loan Marriage Penalty Elimination Act aims to address the disparity in tax deductions for student loan interest between married couples and unmarried individuals. By allowing married couples to apply the $2,500 limitation separately to each spouse, the bill seeks to alleviate the financial burden faced by married couples with student loans and promote marriage as a fundamental institution. With bipartisan support and endorsements from various organizations, the bill has the potential to make a significant impact on the lives of many Americans burdened by student loan debt.

Click this link to access more information: https://grothman.house.gov/news/documentsingle.aspx?DocumentID=3690