Summary: S.768 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.768. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (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).