Language Page 665, after line 4, insert:"Notwithstanding any other provision of law or regulation, for taxable years beginning on or after January 1, 2025, individuals filing as a single with adjusted income below $75,000 and married individuals filing jointly with income below $150,000 are eligible to receive a refundable tax credit of up to $1,000 for interest payments made pursuant to student loan debt."
Page 665, after line 4, insert:
"Notwithstanding any other provision of law or regulation, for taxable years beginning on or after January 1, 2025, individuals filing as a single with adjusted income below $75,000 and married individuals filing jointly with income below $150,000 are eligible to receive a refundable tax credit of up to $1,000 for interest payments made pursuant to student loan debt."
Explanation
(This amendment authorizes a tax credit of up to $1,000 on the portion of student loan payments which goes to interest for single filers who make less than $75,000 and married filers making less than $150,000.)