To amend the Internal Revenue Code of 1986 to repeal the 60-month limitation period on the allowance of a deduction of interest on loans for higher education expenses.

1/16/2023, 11:33 PM

Congressional Summary of HR 686

Amends the Internal Revenue Code to eliminate the 60-month limit on student loan interest deductions.

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Current Status of Bill HR 686

Bill HR 686 is currently in the status of Bill Introduced since February 14, 2001. Bill HR 686 was introduced during Congress 107 and was introduced to the House on February 14, 2001. Bill HR 686's most recent activity was See H.R.1836. as of August 13, 2001

Bipartisan Support of Bill HR 686

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 686

Primary Policy Focus

Taxation

Potential Impact Areas

EducationFinance and Financial SectorHigher educationIncome taxInterestPersonal income taxStudent loan fundsTax deductions

Alternate Title(s) of Bill HR 686

To amend the Internal Revenue Code of 1986 to repeal the 60-month limitation period on the allowance of a deduction of interest on loans for higher education expenses.To amend the Internal Revenue Code of 1986 to repeal the 60-month limitation period on the allowance of a deduction of interest on loans for higher education expenses.

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