Feb 7, 2019, U.S. Congressmen Scott Peters (CA-52) and Rodney Davis (IL-13) 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.
The legislation was proposed last week in the House, with a Proposal in the Senate to follow.
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.
Other supporters include: Earl Blumenauer (D-OR), Elise Stefanik (R-NY), Stephanie Murphy (D-FL), Tom Cole (R-OK), Gwen S. Moore (D-WI), Jason Smith (R-MO)
Senators Mark Warner (D-VA) and John Thune (R-SD) will introduce an identical bill in the Senate.