,,ii  #aafth ,,congress  #b;d ,session  
,s4 #ejfi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,december #ah1 
#bjbj,ms4 ,cortez ,masto 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 ,upward ,mobility   
,enhancement ,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 to read as follows3  7#b7       
,maximum exclusion  7,a7 ,in general    
,this section shall apply only to the   
first #aa1ejj of educational assistance 
furnished to an individual during a     
calendar year4  7,b7 ,inflation         
adjustment ,in the case of any calendar 
year after #bjba1 the #aa1ejj amount in 
subparagraph 7,a7 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   
#bjbj for calendar year #bjaf in        
subparagraph 7,a77ii7 thereof4  ,if any 
increase determined under this          
subparagraph is not a multiple of #ej1  
such increase shall be rounded to the   
next lowest multiple of #ej4  4  7b7    
,effective date ,the amendment made by  
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjbj4