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US HB7536
Bill
Status
2/12/2026
Primary Sponsor
Daniel Goldman
Click for details
AI Summary
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Expands the student loan tax deduction to cover all loan payments (both principal and interest), not just interest payments as under current law
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Increases the maximum annual deduction from $2,500 to $10,000, plus an additional $500 per dependent
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Raises income phase-out thresholds from $50,000-$100,000 (single/joint) to $125,000-$250,000 (single) and $250,000-$300,000 (joint)
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Applies to taxable years beginning after December 31, 2025
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Introduced February 12, 2026 by Rep. Goldman (D-NY) with 5 cosponsors; referred to House Ways and Means Committee
Legislative Description
GRADUATE Act Generating Relief for Academic Debt Using Assisted Tax Efficiency Act
Taxation
Last Action
Referred to the House Committee on Ways and Means.
2/12/2026