Higher Education Affordability and Equity Act of 2005
Latest action · Apr 18, 2005 Referred to the Subcommittee on 21st Century Competitiveness.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 17, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Higher Education Affordability and Equity Act of 2005 - Amends the Internal Revenue Code to: (1) repeal the dollar limitation on the tax deduction for interest on education loans and expand eligibility for such deduction by revising the modified adjusted gross income phaseout for such deduction; (2) make the tax deduction for qualified tuition and related expenses permanent; (3) increase from $2,000 to $5,000 the maximum allowable contribution to a Coverdell savings account; (4) exclude from gross income amounts received for qualified higher education expenses (e.g., books, supplies, room, board, and special needs services); and (5) allow certain additional expenses (e.g., fees, books, supplies, and equipment) for purposes of the Hope Scholarship Tax Credit and provide that such tax credit shall not be reduced by Federal Pell Grants and Supplemental Educational Opportunity (SEOG) Grants.
Repeals the sunset provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) applicable to title IV, subtitles A, B, and D (Affordable Education Provisions) of such Act.
Amends the Higher Education Act of 1965 (HEA) to provide that a qualified education benefit shall not be considered an asset of a student for purposes of a student financial need analysis. Defines "qualified education benefit" as a tax-exempt tuition credits program, a State education prepayment plan, and a Coverdell education savings account.
Cosponsors 53
Members who signed on, in the order they did. Signatures ran from Mar 17, 2005 to Jul 25, 2006; 6 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-WI | F. James Sensenbrenner, Jr. | Original | Mar 17, 2005 |
| D-NJ | Frank Pallone, Jr. | Original | Mar 17, 2005 |
| D-TN | Harold E. Ford Jr. | Original | Mar 17, 2005 |
| D-CA | Henry A. Waxman | Original | Mar 17, 2005 |
| D-NJ | Rush Holt | Original | Mar 17, 2005 |
| R-PA | Todd Russell Platts | Original | Mar 17, 2005 |
| D-VA | Rick Boucher | Apr 6, 2005 | |
| R-CT | Rob Simmons | Apr 6, 2005 | |
| R-MI | Thaddeus G. McCotter | Apr 6, 2005 | |
| D-TX | Charles A. Gonzalez | Apr 14, 2005 | |
| R-LA | Rodney Alexander | Apr 14, 2005 | |
| R-KY | Ron Lewis | Apr 14, 2005 | |
| R-MD | Roscoe G. Bartlett | Apr 14, 2005 | |
| D-PA | Tim Holden | Apr 14, 2005 | |
| D-CA | Tom Lantos | Apr 14, 2005 | |
| D-NY | Carolyn McCarthy | Apr 20, 2005 | |
| R-WV | Shelley Moore Capito | Apr 20, 2005 | |
| R-MI | Dave Camp | Apr 28, 2005 | |
| D-KS | Dennis Moore | Apr 28, 2005 | |
| R-UT | Rob Bishop | May 3, 2005 | |
| R-VA | Jo Ann Davis | May 5, 2005 | |
| R-OH | Michael R. Turner | May 5, 2005 | |
| D-ME | Thomas H. Allen | May 5, 2005 | |
| R-IN | John N. Hostettler | May 10, 2005 | |
| R-MI | Peter Hoekstra | May 10, 2005 | |
| R-MN | Mark R. Kennedy | May 17, 2005 | |
| R-PA | Michael G. Fitzpatrick | May 17, 2005 | |
| D-GA | Sanford D. Bishop, Jr. | May 24, 2005 | |
| D-MD | Elijah E. Cummings | Jun 23, 2005 | |
| R-OH | Paul E. Gillmor | Jun 23, 2005 | |
| D-NJ | Steven R. Rothman | Jun 23, 2005 | |
| R-MI | John J.H. "Joe" Schwarz | Jul 14, 2005 | |
| R-TX | Ron Paul | Jul 14, 2005 | |
| R-IL | Mark Kirk | Jul 28, 2005 | |
| D-GA | Cynthia A. McKinney | Sep 27, 2005 | |
| R-PA | Jim Gerlach | Sep 27, 2005 | |
| D-WA | Rick Larsen | Sep 27, 2005 | |
| D-OH | Tim Ryan | Sep 27, 2005 | |
| R-MO | W. Todd Akin | Sep 27, 2005 | |
| D-AZ | Ed Pastor | Oct 18, 2005 | |
| R-MN | John Kline | Oct 18, 2005 | |
| R-MO | Kenny C. Hulshof | Oct 18, 2005 | |
| R-OH | Patrick J. Tiberi | Oct 18, 2005 | |
| R-PA | Charles W. Dent | Dec 8, 2005 | |
| D-TX | Ruben Hinojosa | Dec 8, 2005 | |
| D-ME | Michael H. Michaud | Mar 29, 2006 | |
| R-PA | Tim Murphy | Mar 29, 2006 | |
| R-IA | Tom Latham | Mar 29, 2006 | |
| R-AK | Don Young | Apr 6, 2006 | |
| R-IL | Jerry Weller | Apr 6, 2006 | |
| R-IA | James A. Leach | May 2, 2006 | |
| R-AL | Jo Bonner | May 2, 2006 | |
| D-TN | Bart Gordon | Jul 25, 2006 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Mar 17, 2005 |
| House | Education and Workforce Committee | Referred Mar 17, 2005 |
| Higher Education and Workforce Development Subcommittee | Referred Apr 18, 2005 |
Actions 3
Everything that happened, newest first.
- Apr 18, 2005Referred to the Subcommittee on 21st Century Competitiveness.
- Mar 17, 2005Introduced in House
- Mar 17, 2005Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to expand incentives for education.
- Short Titles as Introduced
- Higher Education Affordability and Equity Act of 2005
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Armed Forces and National Security
- College costs
- Congress
- Cost of living adjustments
- Economics and Public Finance
- Education
- Education savings accounts
- Employee benefit plans
- Equipment and supplies
- Federal aid to education
- Finance and Financial Sector
- Government Operations and Politics
- Government paperwork
- Health
- Higher education
- Income tax
- Indexing (Economic policy)
- Interest
- Labor and Employment
- Medical education
- Medical personnel
- Military medicine
- Military personnel
- Public health personnel
- Scholarships
- Student aid
- Student loan funds
- Sunset legislation
- Tax deductions
- Tax exclusion
- Tax returns
- Taxation
- Textbooks
- Tuition tax credits
Text 1
Each version as it was printed, newest first.
- Mar 17, 2005Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.