,,ii  #aafth ,,congress  #b;d ,session  
,s4 #ciaf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #h1      
#bjbj,mrs4 ,loeffler introduced the     
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to increase the 
exclusion for educational assistance    
programs4  #a4 ,short title ,this ,act  
may be cited as the ,american ,workforce
 ,development ,act4  #b4 ,increase in   
exclusion for educational assistance    
programs  7a7 ,in general ,paragraph    
7#b7 of section #abg7;a7 of the         
,internal ,revenue ,code of #aihf is    
amended by striking #e1bej each place it
 appears in the text and the heading and
 inserting #aa1ejj4  7b7 ,inflation     
adjustment ,section #abg7;c7 of such    
,code is amended by adding at the end   
the following new paragraph3  7#h7      
,inflation adjustment  7,a7 ,in general 
,in the case of any calendar year after 
#bjai1 each dollar amount in subsection 

7a77#b7 shall be increased by an amount 
equal to-- 7i7 such dollar amount1      
multiplied by  7ii7 the cost-of-living  
adjustment determined under section     
#a7;f77#c7 for the calendar year in     
which such taxable year begins by       
substituting calendar year #bjag for    
calendar year #bjaf in subparagraph     
7,a77ii7 thereof4  7,b7 ,rounding ,if   
any increase determined under           
subparagraph 7,a7 is not a multiple of  
#ej1 such increase shall be rounded to  
the next lowest multiple of #ej4  4  7c7
 ,effective date ,the amendments made by
 this section shall apply to taxable    
years beginning after ,december #ca1    
#bjai4