H.R.1707 - Bank on Students Emergency Loan Refinancing Act116th Congress (2019-2020)
|Sponsor:||Rep. Courtney, Joe [D-CT-2] (Introduced 03/13/2019)|
|Committees:||House - Education and Labor; Ways and Means; Budget|
|Latest Action:||House - 03/13/2019 Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and the Budget, 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. (All Actions)|
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Summary: H.R.1707 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (03/13/2019)
Bank on Students Emergency Loan Refinancing Act
This bill revises requirements concerning student loan debt.
Specifically, the bill establishes a program that allows eligible individuals with federal or private student loans to refinance them down to the lower rates offered to new federal borrowers in the 2016-2017 school year under certain circumstances.
In addition, the bill requires an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (commonly known as the tentative fair share tax).