,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #hjjf  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #i1 #bjbb,mr4   
,f]guson 7= himself & ,mr4 ,gallagh]7   
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means1 & 9    
addition to ! ,committees on ,education 
& ,labor1 & ,en]gy & ,comm]ce1 = a p]iod
 to be subsequ5tly det]m9$ by ! ,speak]1
 9 ea* case = consid]ation ( su*        
provisions z fall )9 ! jurisdiction ( ! 
committee conc]n$  ,a ,,bill  ,to       
prohibit ! mass cancellation ( /ud5t    
loans4  #a4 ,%ort title ,?is ,act may be
 cit$ z ! ,/ud5t ,loan ,acc\ntability   
,act4  #b4 ,f9d+s ,congress f9ds !      
foll[+3  7#a7 ,/atutory au?ority has n  
be5 provid$ to ! executive bran* ( !    
,f$]al ,gov]nm5t to cancel /ud5t loans  
on a mass scale4  7#b7 ,x is unfair =   
taxpay]s :o paid /ud5t loans or did n   
att5d college to pay = ^? :o *ose to    
take /ud5t loans4  7#c7 ,cancel+ /ud5t  
loan debt w\ld disproportionately assi/ 
weal?y borr[]s ov] und]privileg$        

borr[]s4  #c4 ,prohibition on mass      
cancellation ( /ud5t loans  7a7         
,prohibition  7#a7 ,9 g5]al ,not)/&+ any
 o!r provision ( law1 ! ,secret>y (     
,education1 ! ,secret>y ( ! ,treasury1  
or ! ,attorney ,g5]al %all n take any   
action to cancel or =give ! out/&+      
balances1 or portion ( balances1 ( cov]$
 loans1 except z provid$ 9 p>agraph     
7#b74  7#b7 ,exemption ,! prohibition   
describ$ 9 p>agraph 7#a7 %all n apply to
 t>get$ ,f$]al /ud5t loan =giv5ess1     
cancellation1 or repaym5t programs c>ri$
 out "u ! ,high] ,education ,act ( #aife
 7#bj ,u4,s4,c4 #ajja et seq474  7b7    
,def9itions ,9 ?is section1 ! t]m cov]$ 
loan means--  7#a7 a loan made1 insur$1 
or gu>ante$ "u "p ,b1 ,d1 or ,e ( title 
,,iv ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajga et seq42 #ajhg;a et
 seq42 #ajhg;aa et seq47 be=e1 on1 or   
aft] ! date ( enactm5t ( ?is ,act2 or   
7#b7 a loan "u ! ,heal? ,education      
,assi/ance ,loan ,program "u title ,,vii
 ( ! ,public ,heal? ,s]vice ,act 7#db   

,u4,s4,c4 #bib et seq47 made be=e1 on1  
or aft] ! date ( enactm5t ( ?is ,act4   
7c7 ,limitation ,! ,secret>y (          
,education1 ! ,secret>y ( ! ,treasury1  
or ! ,attorney ,g5]al may n implem5t1 or
 publi% 9 any =m1 any regulation1 or    
take any action1 t modifies1 alt]s1     
am5ds1 cancels1 dis*>ges1 =gives1 or    
def]s ! repaym5t ( any /ud5t debt n     
expressly p]mitt$ )9 /atute or          
regulation1 reg>d+ cov]$ loans1 except  
to ! ext5t t su* regulation or action   
reflects ! cle> & unequivocal int5t (   
,congress 9 legislation4  #d4 ,repeal ( 
c]ta9 /ud5t loan =giv5ess modifications 
7a7 ,9 g5]al ,section #ajh7;f7 ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ p>agraph 7#e74  7b7 ,effective 
date ,! am5dm5t made by ?is section %all
 apply to dis*>ges ( loans aft] ! date (
 ! enactm5t ( ?is ,act4  #e4            
,prohibition ( tax data %>+  7a7 ,9     
g5]al ,section #fajc7l77#ac77;,d77ii7 ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ by add+ or return in=mation = !   

purpose ( adm9i/]+ a /ud5t loan         
cancellation plan unrelat$ to reasons   
au?oriz$ "u subp>agraphs 7,a71 7,b71 &  
7,c7 aft] inve/igations or prosecutions4
  7b7 ,effective date ,! am5dm5t made by
 ?is section %all apply to disclosures  
made aft] ! date ( ! enactm5t ( ?is     
,act4