Generating Opportunity by Forgiving Educational Debt for Service Act of 2005

Fact Sheet API

Bill Number

S 1255

Introduced

Jun 16, 2005

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6742)

Sponsor

Cosponsors

Topics

Armed Forces and National Security Economics and Public Finance Education Federal aid to education Federal employees Government Operations and Politics Higher education Income tax Iraq compilation Labor and Employment Old age, survivors and disability insurance Recruiting and enlistment Recruiting of employees Scholarships Social security taxes Social Welfare Student loan funds Tax exclusion Tax exemption Taxation Wages

Full Text

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Votes

Summary

Generating Opportunity by Forgiving Educational Debt for Service Act of 2005 - Amends the Internal Revenue Code to exclude from gross income student loan repayments by the federal government on behalf of federal employees and members of the Armed Forces on active duty. Exempts such repayments from social security taxes.

Actions

Jun 16, 2005

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6742)
Jun 16, 2005

Sponsor introductory remarks on measure. (CR S6742)
Jun 16, 2005

Introduced in Senate

Amendments

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