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Roll Calls
Student Loan Affordability Act
Policy Area: Taxation
Sponsor: Sen. Reed, Jack [D-RI] (D-RI)
Latest Action (2013-06-06): Cloture on the motion to proceed to measure not invoked in Senate by Yea-Nay Vote. 51 – 46. Record Vote Number: 143. (consideration: CR S3977-3978)
Student Loan Affordability Act – Amends the Higher Education Act of 1965 to extend until June 30, 2015, existing interest rates for loans made to undergraduate students under the Federal Direct Stafford Loan program. Amends the Internal Revenue Code to modify rules for required distributions from tax-exempt pension plans to an employee who dies before such employee's entire interest is distributed to require such interest to be distributed within five years after the death of such employee, subject to exceptions for an eligible designated beneficiary and surviving spouse of such employee. Defines "eligible designated beneficiary" to include a disabled or chronically-ill individual. Exempts from such modification a binding annuity contract in effect on the enactment date of this Act. Amends the Internal Revenue Code to: (1) limit the deductibility of interest payments made by a corporation which is an expatriated entity to a related person; (2) expand the definition of "crude oil" for purposes of the excise tax on petroleum to include crude oil condensates, natural gasoline, any bitumen or bituminous mixture, and any oil derived from a bitumen or bituminous mixture; (3) eliminate the requirement that such crude oil be produced in a well located in the United States; and (4) make permanent the Oil Spill Liability Trust Fund financing rate. Exempts the budgetary effects of this Act from the requirements of specified PAYGO scorecards.
Subjects: Budget deficits and national debt, Employee benefits and pensions, Foreign and international corporations, Government lending and loan guarantees, Government trust funds, Higher education, Income tax deductions, Interest, dividends, interest rates
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How members voted on S953. 0 total positions across all roll calls for this bill.
No vote data available for S953.