[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1622 Introduced in House (IH)]

<DOC>






118th CONGRESS
  1st Session
                                H. R. 1622

          To prohibit the mass cancellation of student loans.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 17, 2023

Mr. Ferguson (for himself, Mr. Gallagher, Mrs. Miller of West Virginia, 
   Mr. Wenstrup, Mr. Kustoff, Mr. LaHood, and Mr. Smith of Nebraska) 
 introduced the following bill; which was referred to the Committee on 
Ways and Means, and in addition to the Committees on Education and the 
  Workforce, and Energy and Commerce, 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

_______________________________________________________________________

                                 A BILL


 
          To prohibit the mass cancellation of student loans.

    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 ``Student Loan Accountability Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) Statutory authority has not been provided to the 
        executive branch of the Federal Government to cancel student 
        loans on a mass scale.
            (2) It is unfair for taxpayers who paid student loans or 
        did not attend college to pay for those who chose to take 
        student loans.
            (3) Canceling student loan debt would disproportionately 
        assist wealthy borrowers over underprivileged borrowers.

SEC. 3. PROHIBITION ON MASS CANCELLATION OF STUDENT LOANS.

    (a) Prohibition.--
            (1) In general.--Notwithstanding any other provision of 
        law, the Secretary of Education, the Secretary of the Treasury, 
        or the Attorney General shall not take any action to cancel or 
        forgive the outstanding balances, or portion of balances, of 
        covered loans, except as provided in paragraph (2).
            (2) Exemption.--The prohibition described in paragraph (1) 
        shall not apply to targeted Federal student loan forgiveness, 
        cancellation, or repayment programs carried out under the 
        Higher Education Act of 1965 (20 U.S.C. 1001 et seq.).
    (b) Definitions.--In this section, the term ``covered loan'' 
means--
            (1) a loan made, insured, or guaranteed under part B, D, or 
        E of title IV of the Higher Education Act of 1965 (20 U.S.C. 
        1071 et seq.; 1087a et seq.; 1087aa et seq.) before, on, or 
        after the date of enactment of this Act; or
            (2) a loan under the Health Education Assistance Loan 
        Program under title VII of the Public Health Service Act (42 
        U.S.C. 292 et seq.) made before, on, or after the date of 
        enactment of this Act.
    (c) Limitation.--The Secretary of Education, the Secretary of the 
Treasury, or the Attorney General may not implement, or publish in any 
form, any regulation, or take any action, that modifies, alters, 
amends, cancels, discharges, forgives, or defers the repayment of any 
student debt not expressly permitted within statute or regulation, 
regarding covered loans, except to the extent that such regulation or 
action reflects the clear and unequivocal intent of Congress in 
legislation.

SEC. 4. REPEAL OF CERTAIN STUDENT LOAN FORGIVENESS MODIFICATIONS.

    (a) In General.--Section 108(f) of the Internal Revenue Code of 
1986 is amended by striking paragraph (5).
    (b) Effective Date.--The amendment made by this section shall apply 
to discharges of loans after the date of the enactment of this Act.

SEC. 5. PROHIBITION OF TAX DATA SHARING.

    (a) In General.--Section 6103(l)(13)(D)(ii) of the Internal Revenue 
Code of 1986 is amended by adding ``or the use of return information 
for the purpose of administering a student loan cancellation plan 
unrelated to reasons authorized under subparagraphs (A), (B), and (C)'' 
after ``investigations or prosecutions''.
    (b) Effective Date.--The amendment made by this section shall apply 
to disclosures made after the date of the enactment of this Act.
                                 <all>