HR3165Referred to Committee

Student Loan Tax Elimination Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-05-01
Introduced
4
Cosponsors
HR
ⓘ
Type

Sponsor

Lloyd Smucker
Lloyd Smucker
Republican · PA · Representative
Votes with party: 98.3% (537 recorded votes)

Full profile: /officials/S001199

Source: Congress.gov · FEC

Cosponsors (4)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Education and Workforce.

2025-05-01

Source: Congress.gov

Plain-English Summary

This bill would eliminate federal income taxes on student loan forgiveness, so borrowers whose loans are canceled wouldn't have to pay taxes on the forgiven amount as if it were income. Currently, when student loans are forgiven through programs like Public Service Loan Forgiveness or income-driven repayment plans, borrowers may owe federal taxes on the forgiven balance, which can create a large unexpected tax bill. The change would affect millions of current and future student loan borrowers by reducing the financial burden of loan forgiveness programs.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Affected Industries

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Subjects

Education
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Related legislation

Bills by the same sponsor or covering overlapping subjects.