H.R. 1407 (110th): Higher Education Affordability and Equity Act of 2007

Introduced:
Mar 08, 2007 (110th Congress, 2007–2009)
Sponsor:
Rep. Philip “Phil” English [R-PA3]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on March 8, 2007, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 08, 2007
Cosponsors
11 cosponsors (11R) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to expand incentives for education.

Summary

No summaries available.

Text

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Last updated Mar 08, 2007.
8 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/8/2007--Introduced.
Higher Education Affordability and Equity Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the dollar limitation on the tax deduction for interest on education loans and expand eligibility for such deduction by revising the modified adjusted gross income phaseout for such deduction; (2) make the tax deduction for qualified tuition and related expenses permanent; (3) increase from $2,000 to $5,000 the maximum allowable contribution to a Coverdell savings account; (4) exclude from gross income amounts received for qualified higher education expenses (e.g., books, supplies, room, board, and special needs services); and (5) allow certain additional expenses (e.g., fees, books, supplies, and equipment) for purposes of the Hope Scholarship Tax Credit and provide that such tax credit shall not be reduced by Federal Pell Grants and Supplemental Educational Opportunity (SEOG) Grants.
Repeals the sunset provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) applicable to title IV, subtitles A, B, and D (Affordable Education Provisions) of such Act.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)