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H.R.4135 - Upward Mobility Enhancement Act115th Congress (2017-2018) |

Bill

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Sponsor: Rep. Smith, Jason [R-MO-8] (Introduced 10/25/2017)
Committees: House - Ways and Means
Latest Action: House - 10/25/2017 Referred to the House Committee on Ways and Means.  (All Actions)

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This bill has the status Introduced

Here are the steps for Status of Legislation:

  1. Introduced
  2. Passed House
  3. Passed Senate
  4. To President
  5. Became Law

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  • Constitutional Authority Statement
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Summary: H.R.4135 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.4135. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/25/2017)

Upward Mobility Enhancement Act

This bill amends the Internal Revenue Code, with respect to the exclusion for educational assistance programs, to increase the maximum amount of employer-provided educational assistance that may be excluded from the gross income of an employee.

The bill: (1) specifies that the exclusion applies only to the first $11,500 of educational assistance furnished to an individual during a calendar year, in the case of assistance for education below the graduate level; and (2) requires the dollar amount to be adjusted for inflation after 2017.

(Under current law, the exclusion applies only to the first $5,250 of educational assistance furnished to an individual during a calendar year and is not adjusted for inflation.)