US Congress Senate Bill 2007 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on October 25 2017 - 25% progression, died in committee
Action: 2017-10-25 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Upward Mobility Enhancement Act This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee. The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, and (2) requires the $11,500 amount to be adjusted for inflation after 2017. (Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)

Upward Mobility Enhancement Act

Sen. Jeff Flake [R-AZ]

Sen. Catherine Cortez Masto [D-NV]

Sen. Amy Klobuchar [D-MN]

Date	Chamber	Action
2017-10-25	Senate	Read twice and referred to the Committee on Finance.

HB4135 (Related) 2017-10-25 - Referred to the House Committee on Ways and Means.
SB1938 (Related) 2017-10-05 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/2007/all-info
Text	https://www.congress.gov/115/bills/s2007/BILLS-115s2007is.pdf