Peters, Davis Take Bipartisan Action to Address Rising Student Loan Debt Among America’s Workers

February 8, 2019 by TWN Staff

This week, Congressmen Scott Peters (D-CA) and Rodney Davis (R-IL) led a bipartisan group of 99 Members of Congress to reintroduce H.R. 1043, the Employer Participation in Repayment Act, which would incentivize employers to offer student loan assistance to help their employees pay off student loan debt. The bill would provide financial assistance to Americans struggling to pay off college debt by making employer-provided student loan payments tax exempt up to $5,250 a year—similar to tax exemptions for tuition assistance programs.

“I relied on student loans to get through college, when the cost of higher education was much lower than it is today. Now, the collective debt among people in the U.S. is more than $1.5 trillion dollars, which hurts economic growth,” said Rep. Peters. “Many employers have successfully helped their employees pay down their debt, and encouraging similar programs across the country can move us closer to solving the student debt crisis. Our economy benefits, too, when young Americans begin making investments like buying a home, starting a family, or saving for retirement. I appreciate Rep. Davis’s commitment to tackling this important issue.”

“Student loan debt is now the second highest form of consumer debt and prevents many in the workforce from fully contributing to our economy,” said Rep. Davis.“Student loan debt is such a major issue that some private companies have found that offering a benefit to help employees pay down their student loans has allowed them to recruit and retain young talent. Our bill simply builds on this private-sector approach to addressing the student loan debt crisis in this country by allowing this benefit to be tax-free to both the employee and the employer. This innovative approach to student loan debt that has the potential to be the 401(k) of student loans and help millions of graduates who are struggling with student debt.”

Rep. Peters first introduced this bill with Rep. Davis in 2017, and this year, Reps. Earl Blumenauer (OR-03), Elise Stefanik (NY-21), Stephanie Murphy (FL-07), Tom Cole (OK-04), Gwen S. Moore (WI-04), and Jason Smith (MO-08) join as co-leads of the bill. Senators Mark Warner (D-VA) and John Thune (R-SD) will introduce an identical bill in the Senate.

Full text of the legislation can be found here.

Education

Harvard Beats Claim It Dumbs Down Law Review For Race And Gender Education
Harvard Beats Claim It Dumbs Down Law Review For Race And Gender

Harvard University won dismissal of a suit claiming it illegally uses race and gender in selecting students for its elite Law Review. Faculty, Alumni and Students Opposed to Racial Preferences, a Texas group that seeks “to restore meritocracy at American universities by eliminating the use of... Read More

All Missouri Schools Should Have Armed Officer Inside, Report Says State News
All Missouri Schools Should Have Armed Officer Inside, Report Says

JEFFERSON CITY, Mo. — Every Missouri school should have an armed law enforcement officer on hand to respond quickly to an active shooter, a new report says. After four months of work, a special task force headed by Lt. Gov. Mike Kehoe recommended the idea as... Read More

Problem Solvers Endorse Bill to Establish Smithsonian Women’s History Museum In The News
Problem Solvers Endorse Bill to Establish Smithsonian Women’s History Museum
July 26, 2019
by Dan McCue

WASHINGTON - The Problem Solvers Caucus on Thursday endorsed H.R. 1980, the Smithsonian Women’s History Museum Act, which will establish a new women’s history museum on the Mall in Washington, as a part of the Smithsonian Institution. Twenty-four Democrats and 24 Republican members of the Caucus,... Read More

Reps. Lee, DeLauro Fight to Defend Students Against Predatory Loans Education
Reps. Lee, DeLauro Fight to Defend Students Against Predatory Loans
July 16, 2019
by Elin Johnson

WASHINGTON - Representatives Susie Lee, D-Nev., and Rosa DeLauro, D-Conn., have added their names to the growing list of members of Congress who are pushing bills that tackle predatory student loan practices. Reps. Lee and DeLauro have introduced a new bill that will protect college students... Read More

Yosemite to Restore Names to Historic Attractions Under $12 Million Settlement In The News
Yosemite to Restore Names to Historic Attractions Under $12 Million Settlement

LOS ANGELES — The Majestic Yosemite can be called the Ahwahnee Hotel again. The National Park Service on Monday reached a $12 million settlement in a long-running legal battle with Yosemite’s former facilities operator that permits that name — and several others — to be restored... Read More

House Passes Legislation to Expand STEM Scholarship Program for Veterans Veterans
House Passes Legislation to Expand STEM Scholarship Program for Veterans
July 12, 2019
by Sean Trambley

In our new series, Freshmen Get it Done, The Well News will be highlighting legislative accomplishments by freshman Members of Congress from both parties. *** In June, legislation passed the House to expand veterans’ access to the Edith Nourse Rogers Science, Technology, Engineering, and Math (STEM)... Read More

Straight From The Well
scroll top