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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | February 10, 2015 04:03 PM |
|---|---|
| From: | Representative Michael H. O'Brien |
| To: | All House members |
| Subject: | Legislation that will help reduce the burden of college debt. |
| "Drowning in Debt." A phrase once associated with those who had shown financial irresponsibility. Sadly, it is now associated with recent college graduates. Many of those entering the workforce will carry loan repayments that are equal to a mortgage. They will fail to realize the American Dream. I am introducing legislation that will help reduce the burden of college debt. It provides for a tax credit for interest paid on student loans. My legislation provides for a tax credit up to $2,500 per individual on interest paid during a calendar year for the life of the loan. The credit would be available to individuals making up to $75,000 and couples up to $155,000. This is an important step in relieving the millennial generation debt and making the American Dream within reach. I urge you to join me in sponsoring this Bill. |
Introduced as HB607