Student Loan Marriage Penalty Elimination Act of 2021
This bill allows married couples filing a joint tax return to apply the $2,500 limitation on the tax deduction for student loan interest separately to each spouse.
To amend the Internal Revenue Code of 1986 to allow married couples to 
apply the student loan interest deduction limitation separately to each 
                    spouse, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Loan Marriage Penalty 
Elimination Act of 2021''.

SEC. 2. STUDENT LOAN INTEREST DEDUCTION LIMITATION APPLIED SEPARATELY 
              TO EACH SPOUSE.

    (a) In General.--Section 221(b)(1) of the Internal Revenue Code of 
1986 is amended to read as follows:
            ``(1) In general.--The interest taken into account with 
        respect to a taxpayer for a taxable year under subsection (a) 
        for indebtedness incurred by an individual shall not exceed 
        $2,500.''.
    (b) Conforming Amendments.--Section 221 of such Code is amended--
            (1) in subsection (b), by striking the heading and 
        inserting ``Dollar Limitations'', and
            (2) by amending subsection (e) to read as follows:
    ``(e) Denial of Double Benefit.--No deduction shall be allowed 
under this section for any amount for which a deduction is allowable 
under any other provision of this chapter.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2020.
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Student Loan Marriage Penalty Elimination Act of 2021
To amend the Internal Revenue Code of 1986 to allow married couples to apply the student loan interest deduction limitation separately to each spouse, and for other purposes.
Student Loan Marriage Penalty Elimination Act of 2021
Rep. Hartzler, Vicky