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I spoke at @WaysMeansCmte Member Day to highlight two of our bills and suggest a few things they could do to address the negative effects of climate change.
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Our bill with @RodneyDavis, the Employer Participation in Repayment Act, would encourage more employers to provide student loan repayment and make the payments tax-free to employees, up to $5,250 per year, just like tuition assistance is treated today.
It would help employees currently receiving student loan benefits from their employer and encourage more companies to offer this benefit. It won’t solve the student debt crisis, but it will provide relief for many Americans struggling to make their loan payments each month.
I also introduced the Saving for the Future Act, which establishes a minimum employer contribution to a savings plan of 50 cents per hour worked. Smaller companies could save through federally provided “UP Accounts,” modeled after the Thrift Savings Plan for federal workers.
Finally, I urged the committee to help address climate change and build a more sustainable future by: • Increasing incentives for electric and hydrogen vehicles • Expanding the tax credit for energy storage technologies • Extending the life of renewable energy tax credits
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