SBAC Action Call: Reduce Student Debt and support the Small Business Community
Millions of Americans continue to be saddled with crushing student debt. Indeed, total student debt now exceeds $1.5 trillion, affecting over 44 million Americans. Small businesses often have difficulty recruiting and retaining talent in today’s economy. Providing small business owners with a way to help employees reduce their student debt will allow them to attract talent and make them more competitive.
The SBAC strongly supports S. 460, the Employer Participation in Repayment Act. This bipartisan legislation will allow employers to annually repay $5,250 of their employees’ student debt tax free, and this payment is also deductible for the employer. This program is already available to employers presently contributing to their employees’ education. If passed, this legislation will extend this benefit to cover those who have graduated but are struggling with student debt.
There are presently 42 bipartisan cosponsors of this important legislation. We are actively working to bring Senators Durbin and Duckworth on to cosponsor and champion this bill. Please click here (https://oneclickpolitics.global.ssl.fastly.net/messages/edit?promo_id=6848) and take a few moments to contact our Senators and urge them to cosponsor this legislation. Feel free to modify the message but if you do, please do so in a productive manner.
The hyper-partisan nature of Washington makes it difficult to move important legislation. The only way to counter that is through strong grassroots advocacy. Once again, you can click here (https://oneclickpolitics.global.ssl.fastly.net/messages/edit?promo_id=6848) to contact Senators Durbin and Duckworth and ask them to cosponsor this important legislation.