EANGUS strongly supports H.R. 2874, the Andrew P. Carpenter Act of 2015, a bill that would exempt student loan forgiveness from being categorized as taxable income for families of veterans who lost their lives while serving our country.
Lance Corporal Andrew P. Carpenter of Columbia, Tennessee lost his life on February 19, 2011, while stationed in Afghanistan. Three years prior to his tour of duty, Andrew took out a private student loan. Although this loan was ultimately forgiven by the loan company, the Carpenter family was shocked to receive a $1,000 tax bill from the Internal Revenue Service informing them that the discharged debt would still be factored into taxable income for that year. This legislation will stop this from happening to families who have lost loved ones in service to our country.
H.R. 2874 would amend the Internal Revenue Code by exempting student loan forgiveness from being categorized as gross taxable income for families of veterans who lost their lives while serving on active duty in the United States Armed Forces. The bill would be retroactive to October 7, 2001.
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