Readily Ending Debt Under Corporate Engagement Act of 2021 or the REDUCE Act of 2021
This bill modifies the tax deduction for interest paid on student loans to allow such deduction without any offset for amounts received as employer-provided educational assistance.
To amend the Internal Revenue Code of 1986 to allow the deduction for 
     interest paid on student loans without reduction for employer 
                        educational assistance.

    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 ``Readily Ending Debt Under Corporate 
Engagement Act of 2021'' or the ``REDUCE Act of 2021''.

SEC. 2. STUDENT LOAN INTEREST DEDUCTION NOT OFFSET BY EMPLOYER 
              EDUCATIONAL ASSISTANCE.

    (a) In General.--Section 221(d)(2)(A) of the Internal Revenue Code 
of 1986 is amended by striking ``127,''.
    (b) Change to Denial of Double Benefit Rule.--Section 221(e)(1) of 
such Code is amended by striking ``, or for which an exclusion is 
allowable under section 127 to the taxpayer by reason of the payment by 
the taxpayer's employer of any indebtedness on a qualified education 
loan of the taxpayer''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2020.
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REDUCE Act of 2021
To amend the Internal Revenue Code of 1986 to allow the deduction for interest paid on student loans without reduction for employer educational assistance.
REDUCE Act of 2021
Readily Ending Debt Under Corporate Engagement Act of 2021
Rep. Kinzinger, Adam