I 
115TH CONGRESS 
2D SESSION 
H. R. 5928 
To repeal the Tax Cuts and Jobs Act, forgive all outstanding Federal student 
loans, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 23, 2018 
Mr. POLIS (for himself, Mrs. CAROLYN B. MALONEY of New York, Mr. SCOTT 
of Virginia, Ms. JAYAPAL, Mr. DESAULNIER, Ms. CLARKE of New York, 
Mr. ELLISON, Mr. ESPAILLAT, Ms. DELAURO, Ms. MOORE, Ms. ADAMS, 
Mrs. NAPOLITANO, and Mr. PERLMUTTER) introduced the following bill; 
which was referred to the Committee on Ways and Means, and in addi-
tion to the Committees on Education and the Workforce, Natural Re-
sources, and Energy and Commerce, for a period to be subsequently de-
termined by the Speaker, in each case for consideration of such provisions 
as fall within the jurisdiction of the committee concerned 
A BILL 
To repeal the Tax Cuts and Jobs Act, forgive all outstanding 
Federal student loans, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Students Over Special 
Interests Act’’. 
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SEC. 2. SUNSET OF PUBLIC LAW 115–97. 
(a) IN GENERAL.—All provisions of, and amend-
ments made by, Public Law 115–97 shall not apply to cal-
endar, taxable, plan, or limitation years beginning after 
December 22, 2017. 
(b) APPLICATION OF CERTAIN LAWS.—The Internal 
Revenue Code of 1986 shall be applied and administered 
to years described in subsection (a) as if the provisions 
and amendments described in subsection (a) had never 
been enacted. 
SEC. 3. FORGIVENESS OF OUTSTANDING FEDERAL STU-
DENT LOANS. 
(a) FORGIVENESS REQUIRED.—Notwithstanding any 
other provision of law, not later than 180 days after the 
date of the enactment of this Act, the Secretary of Edu-
cation shall forgive the outstanding balance of interest and 
principal due on all eligible Federal student loans. 
(b) METHOD OF LOAN FORGIVENESS.—To provide 
the loan forgiveness required under subsection (a), the 
Secretary is authorized to carry out a program— 
(1) through the holder of the loan, to assume 
the obligation to repay the outstanding balance of 
interest and principal due on a loan made, insured, 
or guaranteed under part B of title IV of the Higher 
Education Act of 1965; and 
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(2) to cancel the outstanding balance of interest 
and principal due on a loan made under part D of 
such title. 
(c) EXCLUSION
FROM
TAXABLE
INCOME.—The 
amount of a borrower’s eligible Federal student loans for-
given under this section shall not be included in the gross 
income of the borrower for purposes of the Internal Rev-
enue Code of 1986. 
(d) DEFINITION OF ELIGIBLE FEDERAL STUDENT 
LOAN.—In this section the term ‘‘eligible Federal student 
loan’’ means any loan made, insured, or guaranteed under 
part B or part D of title IV of the Higher Education Act 
of 1965. 
SEC. 4. INCREASE IN FEDERAL PELL GRANTS; DEFICIT RE-
DUCTION. 
(a) IN GENERAL.—Of the amount of net cost savings 
achieved by sections 2 and 3— 
(1) one half shall be used by the Secretary of 
Education to increase the maximum Federal Pell 
Grant under section 401 of the Higher Education 
Act of 1965 (20 U.S.C. 1070a) by an equal amount 
for each of the 10 award years beginning after the 
date of the enactment of this Act; and 
(2) one half shall be used for the purpose of 
deficit reduction. 
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(b) TREATMENT AS MANDATORY SPENDING.—The 
amounts provided under subsection (a)(1) shall be avail-
able without further appropriation. 
(c) CONTINUATION
OF MAXIMUM AMOUNT.—Not-
withstanding any other provision of law, the amount of 
the maximum Federal Pell Grant under section 401 of the 
Higher Education Act of 1965 (20 U.S.C. 1070a) for each 
award year beginning after the expiration of the period 
described in subsection (a)(1) shall be not less than the 
maximum amount determined for the last award year in 
such period. 
Æ 
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