House bill targets student loan marriage penalty

A House Republican has introduced legislation to combat what he called the marriage penalty for married couples with student loan debt. 

Rep. Kenny Marchant’s bill would double the amount of student loan debt interest that married couples filing jointly can deduct from their taxes, from $2,500 to $5,000. 

{mosads}Currently, married couples have to choose the “married filing separately” status to both get the $2,500 deduction.

“Raising the cap to $5,000 for married couples with student loan debt makes equitable sense and it provides stronger incentives toward higher education, marriage, and financial independence,” Marchant said. 

“With student loan debt putting increasing pressure on our economy, let’s stop penalizing married households and start helping young American families build a stronger future.”