Sending Office: Honorable Scott H. Peters
Sent By:
Baillee.Brown@mail.house.gov

Cosponsor the Bipartisan Employer Participation in Repayment Act

Current cosponsors (92): Bacon, Barr, Barragán, Beatty, Bera, Blumenauer, Boyle,
Brooks, Brownley, Bucshon, Bustos, Carbajal, Carson, Cartwright, Chu, Cicilline, Cohen,
Cole, Connolly, Cook, Crawford, Davis, Dean, DelBene, Delgado, DeSaulnier,
Fitzpatrick, Foster, Gallego, Garamendi, Gomez, Grothman, Haaland, Hill (CA), Himes,
Hudson, Hurd, Joyce, Katko, Kennedy, Khanna, Kilmer, King (NY), Kinzinger, Kirkpatrick, Kuster,
LaHood, Lamb, Levin, Lieu, Loebsack, Lofgren, Maloney (Sean Patrick), Marshall, McBath, McEachin, McGovern,
McKinley, McNerney, Mitchell, Moore, Moulton, Murphy (FL), O’Halleran, Pallone, Peters, Peterson, Pingree, Quigley, Rice (NY),
Riggleman, Roe, Rouzer, Rose, Ruppersberger, Ryan, Scanlon, Schrader, Slotkin,
Smith (MO), Stanton, Stefanik, Stivers, Swalwell, Takano, Trahan, Tonko, Torres,
Turner, Vargas, Welch, Wilson (FL), Womack

Dear Colleague,

The average student graduates with nearly $40,000 in student loan debt. Student loan debt now represents the second highest form of consumer debt and forces many recent college graduates to delay buying a home, saving for retirement, purchasing a car, or
starting a family. 70 percent of graduates needed to take on some amount of student loan debt to pay for their education, and they join the approximately 40 million Americans currently struggling with a total of $1.4 trillion student loan debt, collectively.
Employers are looking at new ways to help, but it’s time we do our part. 

The Employer Participation in Repayment Act would address the student loan debt problem by encouraging employers to offer student loan assistance as a tax-exempt benefit for employees to help pay down their debt. The bill text is
identical to
H.R.795
as introduced in the 115th Congress – the only difference is the title, to align with the Senate’s title. The Employer Participation in Repayment Act provides the following benefits:

  1. Employers – helps companies recruit and retain young talent by allowing them to assist employees with student loan debt in the same way they currently help with continued education benefits.
  2. Employees – will receive a tax-exempt benefit (up to $5,250/year) to help pay off student loans. Currently, employees pay taxes on their employers’ contribution to pay off debt.

Cosponsor deadline is noon on Wednesday, February 6. To become a cosponsor or for more information, please contact Baillee Brown with Rep. Scott Peters at 202-225-0508,
baillee.brown@mail.house.gov or Jimmy Ballard with Rep. Rodney Davis at 202-225-2371, jimmy.ballard@mail.house.gov.

Sincerely,

SCOTT PETERS                                                                    RODNEY DAVIS

Member of Congress                                                              Member of Congress

EARL BLUMENAUER                                                          ELISE STEFANIK

Member of Congress                                                              Member of Congress

GWEN S. MOORE                                                                 TOM COLE

Member of Congress                                                              Member of Congress

STEPHANIE MURPHY                                                         JASON SMITH

Member of Congress                                                              Member of Congress

Related Legislative Issues

Selected legislative information: Economy, Education, Taxes

icon eDC logo e-Dear Colleague version 2.0
 
e-Dear Colleagues are intended for internal House use only.