S. 1047Senate110th Congress (2007-2009)In Committee

Generating Opportunity by Forgiving Educational Debt for Service Act of 2007

Introduced March 29, 2007

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

March 29, 2007

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SenateIntro Referral

Introduced in Senate

March 29, 2007

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S4179-4180)

March 29, 2007

SenateIntro Referral

Read twice and referred to the Committee on Finance.

March 29, 2007

Floor Debate

22 members

What members said about S. 1047 on the floor

6 Republicans16 Democrats
Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Mar 29, 2007

Mr. President, I rise today to introduce legislation to ensure that the land on the West Los Angeles Veterans Affairs, West LA VA, campus is protected for the use of America's Veterans. The bill…

Joseph R. Biden Jr.
Sen. Joseph R. Biden Jr.D-DE · Mar 29, 2007

Mr. President, I would like to take the opportunity today to introduce an important piece of legislation to improve the ability of the Department of Defense and the Department of Veterans Affairs to…

Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Mar 29, 2007

Mr. President, today, I am introducing the Heroes at Home Act of 2007, the Restoring Disability Benefits for Injured and Wounded Warriors Act of 2007, and the Protecting Military Family Financial…

Herb Kohl
Sen. Herb KohlD-WI · Mar 29, 2007

Mr. President, I rise today to introduce the Prevent All Cigarette Trafficking (PACT) Act with Senators Specter, Leahy, Kyl, and Schumer. As the problem of cigarette trafficking continues to worsen,…

Sam Brownback
Sen. Sam BrownbackR-KS · Mar 29, 2007

Mr. President, I rise to speak on bipartisan legislation that Senator Landrieu and myself are introducing, the Human Cloning Prohibition Act. We do this today with 26 other cosponsors. It is…

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Robert C. Byrd
Sen. Robert C. ByrdD-WV · Mar 29, 2007

Mr. President, West Virginians have always been a deeply spiritual people. Historically, we have stood fast in our devotion to the Creator, even when--or especially when--faced with adversity,…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Mar 29, 2007

Mr. President, I am introducing the Crane Conservation Act of 2007. I am very pleased that the Senators from Idaho, Mr. Crapo, Florida, Mr. Martinez, Wisconsin, Mr. Kohl, Maryland, Mr. Cardin, and…

Olympia J. Snowe
Sen. Olympia J. SnoweR-ME · Mar 29, 2007

Mr. President, I rise today to introdnce the Early Hearing Detection and Intervention Act of 2007. This bill is a companion bill to H.R. 1198, introduced in the House by Representative Lois Capps. I…

Ken Salazar
Sen. Ken SalazarD-CO · Mar 29, 2007

Mr. President, I rise today to make the health of American children and families a top priority with the Healthy Children and Families Act of 2007, which I introduced earlier today with Senator…

Barack Obama
Sen. Barack ObamaD-IL · Mar 29, 2007

Mr. President, next week is National Public Health week--a week to raise awareness about the importance of public health all around this Nation. I applaud the efforts of the American Public Health…

Christopher J. Dodd
Sen. Christopher J. DoddD-CT · Mar 29, 2007

Mr. President, I rise today to introduce the National Liberty Memorial Act along with my colleagues, Senators Charles E. Grassley and Sen. Barack Obama. Representatives Donald M. Payne, William Lacy…

George V. Voinovich
Sen. George V. VoinovichR-OH · Mar 29, 2007

Mr. President, I rise today to introduce three important pieces of legislation that I believe will improve the ability of the Federal Government to recruit and retain a world class workforce: the…

George V. Voinovich
Sen. George V. VoinovichR-OH · Mar 29, 2007

Mr. President, I rise today to introduce three important pieces of legislation that I believe will improve the ability of the Federal Government to recruit and retain a world class workforce: the…

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Tom Harkin
Sen. Tom HarkinD-IA · Mar 29, 2007

Mr. President, today I introduce the Promoting Wellness for Individuals with Disabilities Act. This important legislation will help ensure that people with disabilities have the same health and…

Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Mar 29, 2007

Mr. President, I am delighted to reintroduce the Free Internet Filing Act as the tax filing deadline approaches. The bill requires the Internal Revenue Service (IRS) to provide universal access to…

Edward M. Kennedy
Sen. Edward M. KennedyD-MA · Mar 29, 2007

Mr. President, for far too long, we've acquiesced in a lop-sided economy that benefits wealthy individuals and corporations, but not America's working families. Tens of millions of our men and women…

John Cornyn
Sen. John CornynR-TX · Mar 29, 2007

Mr. President, I rise to introduce the Workforce Health Improvement Program Act of 2007, otherwise known as the WHIP Act. This bipartisan bill I introduce today is the same legislation I introduced…

Orrin G. Hatch
Sen. Orrin G. HatchR-UT · Mar 29, 2007

Mr. President, with my colleagues, Senator Blanche Lincoln, Senator Gordon Smith and Senator Herb Kohl, I rise to introduce the Elder Justice Act of 2007. Senators Lincoln, Smith, Kohl and I…

Ted Stevens
Sen. Ted StevensR-AK · Mar 29, 2007

Mr. President, the bill that I introduce today seeks to codify the initiatives announced by President Bush in January of this year in his Executive order to strengthen Federal environmental, energy,…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Mar 29, 2007

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record. Mr. President, I am proud to be joined today by my colleagues, Senator Grassley from Iowa, and…

Carl Levin
Sen. Carl LevinD-MI · Mar 29, 2007

Mr. President, the Grand River Bands of Ottawa Indians, commonly referred to as the Grand River Bands, has been in some form indigenous to the State of Michigan for over 200 years. The Grand River…

Joseph I. Lieberman
Sen. Joseph I. LiebermanD-CT · Mar 29, 2007

Mr. President, today, along with my friend Senator Sam Brownback, I am introducing the Great Cats and Rare Canids Act, which will protect and foster populations of imperiled great cats and rare…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Mar 29, 2007

Mr. President, I rise today to announce the introduction, by request, of the Next Generation Air Transportation System Financing Reform Act of 2007, the Bush administration's proposal for the Federal…

Bill Text

Latest available legislative text

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Introduced in SenateIssued March 29, 2007

II

110th CONGRESS

1st Session

S. 1047

IN THE SENATE OF THE UNITED STATES

March 29, 2007

Mr. Voinovich (for himself, Ms. Collins, and Mr. Akaka) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to exclude from gross income amounts paid on behalf of Federal employees and members of the Armed Forces on active duty under Federal student loan repayment programs.

1.

Short title

This Act may be cited as the Generating Opportunity by Forgiving Educational Debt for Service Act of 2007.

2.

Exclusion for student loan repayments by the Federal Government

(a)

Exclusion from gross income

Section 108(f) of the Internal Revenue Code of 1986 (relating to student loans) is amended by adding at the end the following:

(5)

Student loan repayments by Federal Government

In the case of an individual, gross income does not include any payments made by the Federal Government on behalf of such individual under—

(A)
(i)

section 5379 of title 5, United States Code; or

(ii)

any other similar Federal program for its employees; or

(B)

section 510(e)(2), chapter 109, or chapter 1609 of title 10, United States Code.

.

(b)

Exclusion from wages

(1)

In general

Section 3121(a) of such Code (defining wages) is amended—

(A)

in paragraph (21), by striking or at the end;

(B)

in paragraph (22), by striking the period at the end and inserting ; or; and

(C)

by inserting after paragraph (22) the following:

(23)

any payment excluded from gross income under section 108(f)(5) (relating to student loan repayments by the Federal Government).

.

(2)

Social Security Act

Section 209(a) of the Social Security Act (42 U.S.C. 409(a)) is amended by adding at the end the following:

(20)

Any payment excluded from gross income under section 108(f)(5) of the Internal Revenue Code of 1986 (relating to student loan repayments by Federal Government).

.

(c)

Effective date

The amendments made by this section shall apply to payments made on or after the date of enactment of this Act in taxable years ending after such date.