Following Trump’s Bigoted Crusade Against LGBTQ+ Community, Rep. Goldman, Leader Schumer, Senator Gillibrand Formally Introduce Legislation to Protect the Pride Flag from[...]

Today, U.S. Representatives Dan Goldman (NY-10) and Sara Jacobs (CA-51) introduced the Generating Relief for Academic Debt Using Assisted Tax Efficiency (GRADUATE) Act, legislation that would allow student loan borrowers to deduct their student loan payments, including accrued interest, from their taxable income. The student loan interest tax deduction has not been raised since 2001, while borrowing costs have risen unsustainably for students nationwide. The GRADUATE Act addresses the student loan crisis by enacting a long overdue increase of the current $2,500 tax deduction benefit for student loan interest payments and expanding coverage for payments towards the loan principal. Reps. Robert Garcia (CA-42), Eleanor Holmes Norton (DC-AL), Shomari Figures (AL-02), and Chellie Pingree (ME-01) cosponsor this legislation.