Summary: S.2007 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.2007. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (10/25/2017)

Upward Mobility Enhancement Act

This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee.

The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, and (2) requires the $11,500 amount to be adjusted for inflation after 2017.

(Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)