S.Amdt. 1651

SA 1651. Mr. BROWN submitted an amendment intended to be proposed by
him to the bill H.R. 1, to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for fiscal
year 2018; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. INCREASE DEDUCTION FOR INTEREST PAID ON QUALIFIED
EDUCATION LOANS.

(a) Increase in Maximum Deduction.--
(1) In general.--Paragraph (1) of section 221(b) is amended
by striking ``$2,500'' and inserting ``$5,000''.
(2) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after December 31,
2017.
(b) Adjustment to Corporate Tax Rate.--
(1) In general.--Section 11(b), as amended by section 13001
of this Act, is amended by striking ``20 percent'' and
inserting ``20.5 percent''.
(2) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after December 31,
2018.
______