Student Loan Marriage Penalty Elimination Act of 2026
Sponsored By: Senator Raphael Warnock
Introduced
Summary
Applies the $2,500 student loan interest deduction limit to each spouse separately. This bill would let married couples where both spouses pay student loan interest each claim up to $2,500 instead of sharing one cap.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Individual $2,500 student loan interest cap
If enacted, you would be able to deduct up to $2,500 of student loan interest you paid in a taxable year. The limit would apply to each individual taxpayer, so married couples filing jointly could each claim up to $2,500. The bill would deny any section 221 deduction for interest that is already deductible under another tax rule. These changes would apply to tax years beginning after December 31, 2026.
Sponsors & CoSponsors
Sponsor
Raphael Warnock
GA • D
Cosponsors
Sen. Lankford, James [R-OK]
OK • R
Sponsored 3/17/2026
Sen. Lummis, Cynthia M. [R-WY]
WY • R
Sponsored 3/17/2026
Sen. Bennet, Michael F. [D-CO]
CO • D
Sponsored 3/17/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov