,,ii  #aad? ,,congress  #a/ ,session    
,s4 #aigc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,augu/ #e1 #bjae,mr4   
,paul introduc$ ! foll[+ bill2 :i* 0    
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to exp& ! d$uction
 = int]e/ on education loans1 to ext5d &
 exp& ! d$uction = qualifi$ tuition &   
relat$ exp5ses1 & elim9ate ! limitation 
on contributions to ,cov]dell education 
sav+s acc\nts4  #a4 ,expansion (        
d$uction = int]e/ on education loans    
7a7 ,elim9ation ( cap on d$uction       
,section #bba ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by /rik+ subsections  
7b7 & 7f74  7b7 ,c>ryov] ( excess int]e/
 ,section #bba ( ! ,int]nal ,rev5ue     
,code ( #aihf1 z am5d$ by subsection    
7a71 is am5d$ by ins]t+ aft] subsection 
7a7 ! foll[+ new subsection3  7b7       
,c>ryov] ,if ! am\nt ( ! d$uction       
all[able "u subsection 7a7 exce$s !     
taxable income ( ! taxpay] = ! taxable  
ye> 7det]m9$ )\t reg>d to ?is section & 

section #bbb71 !n an am\nt equal to su* 
excess %all be treat$ z int]e/ paid by !
 taxpay] 9 ! succe$+ taxable ye> on a   
qualifi$ education loan4  4  7c7        
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  #b4 ,expansion ( d$uction =      
qualifi$ tuition & relat$ exp5ses  7a7  
,elim9ation ( doll> limitation2 c>ryov] 
( excess exp5ses  7#a7 ,9 g5]al         
,subsection 7b7 ( section #bbb ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
to read z foll[s3  7b7 ,c>ryov] ,if !   
am\nt ( ! d$uction all[able "u          
subsection 7a7 exce$s ! taxable income (
 ! taxpay] = ! taxable ye> 7det]m9$ )\t 
reg>d to ?is section71 !n an am\nt equal
 to su* excess %all be treat$ z qualifi$
 tuition & relat$ exp5ses paid by !     
taxpay] 9 ! succe$+ taxable ye>4  4     
7#b7 ,con=m+ am5dm5t ,p>agraph 7#c7 (   
section #bbb7;d7 ( su* ,code is am5d$ by
 /rik+ d$uction4-- & ins]t+             
d$uction4--,except z provid$ 9          

subsection 7b7--4  7b7 ,p]man5t ext5sion
 ,section #bbb ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ by /rik+         
subsection 7e74  7c7 ,effective date ,! 
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjad4  #c4 ,expansion ( rules =   
,cov]dell education sav+s acc\nts  7a7  
,elim9ation ( contribution limitation   
7#a7 ,9 g5]al ,section #ecj7;b77#a77;,a7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by ins]t+ or at ! end ( clause    
7i71 by /rik+ 1 or at ! end ( clause    
7ii7 & ins]t+ a p]iod1 & by /rik+ clause
 7iii74  7#b7 ,con=m+ am5dm5t ,section  
#ecj ( su* ,code is am5d$ by /rik+      
subsection 7c74  7b7 ,effective date ,! 
am5dm5ts made by ?is section %all apply 
to contributions made 9 taxable ye>s    
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4