The Employer Participation in Repayment Act is bipartisan legislation to help Americans tackle their student loan debt.
The bill, introduced today by U.S. Sens. Mark R. Warner of Virginia and John Thune of South Dakota, alongside U.S. Reps. Nicole Malliotakis of New York and Scott Peters of California, would permanently make a provision that allows employers to contribute up to $5,250 tax-free to their employees’ student loans.
Warner and Thune along with Peters negotiated the inclusion of a provision in the CARES Act in 2020 that allowed employer contributions temporarily. Later in 2020, as part of the government spending package, they secured an extension allowing the benefit until…
