What does Preamble of Student Loan Marriage Penalty Elimination Act of 2026 do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would allow married couples to apply the student loan interest deduction limitation separately to each spouse.

What does SHORT TITLE. of Student Loan Marriage Penalty Elimination Act of 2026 do?

This bill is formally titled the Student Loan Marriage Penalty Elimination Act of 2026.

What does STUDENT LOAN INTEREST DEDUCTION LIMITATION APPLIED SEPARATELY of Student Loan Marriage Penalty Elimination Act of 2026 do?

This section amends Section 221(b)(1) of the Internal Revenue Code of 1986 to limit the amount of student loan interest a taxpayer can deduct to $2,500. The heading of Section 221(b) is changed to 'Dollar Limitations'. Section 221(e) is amended to prevent a 'double benefit' where a deduction is allowable under another provision of the chapter. The changes made by this section apply to taxable years beginning after December 31, 2026.

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Student Loan Marriage Penalty Elimination Act of 2026

Last updated: 3/17/2026 · Introduced: 3/17/2026

Author: Raphael Warnock (D-GA)

TL;DR (AI)

Married couples will be able to separately claim the student loan interest deduction, up to a $2,500 limit per spouse.
The student loan interest deduction limitation is capped at $2,500 for all taxpayers.
The changes to student loan interest deduction rules apply to tax years beginning after December 31, 2026.

119th Congressin committeeHR. 3285(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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