I 
117TH CONGRESS 
2D SESSION 
H. R. 8006 
To prohibit the mass cancellation of student loans. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 9, 2022 
Mr. FERGUSON (for himself and Mr. GALLAGHER) introduced the following 
bill; which was referred to the Committee on Ways and Means, and in 
addition to the Committees on Education and Labor, and Energy and 
Commerce, for a period to be subsequently determined by the Speaker, 
in each case for consideration of such provisions as fall within the juris-
diction of the committee concerned 
A BILL 
To prohibit the mass cancellation of student loans. 
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 ‘‘Student Loan Account-
ability Act’’. 
SEC. 2. FINDINGS. 
Congress finds the following: 
(1) Statutory authority has not been provided 
to the executive branch of the Federal Government 
to cancel student loans on a mass scale. 
VerDate Sep 11 2014 
21:02 Jun 12, 2022
Jkt 029200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H8006.IH
H8006
pbinns on DSKJLVW7X2PROD with $$_JOB
(2) It is unfair for taxpayers who paid student 
loans or did not attend college to pay for those who 
chose to take student loans. 
(3) Canceling student loan debt would dis-
proportionately assist wealthy borrowers over under-
privileged borrowers. 
SEC. 3. PROHIBITION ON MASS CANCELLATION OF STU-
DENT LOANS. 
(a) PROHIBITION.— 
(1) IN GENERAL.—Notwithstanding any other 
provision of law, the Secretary of Education, the 
Secretary of the Treasury, or the Attorney General 
shall not take any action to cancel or forgive the 
outstanding balances, or portion of balances, of cov-
ered loans, except as provided in paragraph (2). 
(2) EXEMPTION.—The prohibition described in 
paragraph (1) shall not apply to targeted Federal 
student loan forgiveness, cancellation, or repayment 
programs carried out under the Higher Education 
Act of 1965 (20 U.S.C. 1001 et seq.). 
(b) DEFINITIONS.—In this section, the term ‘‘covered 
loan’’ means— 
(1) a loan made, insured, or guaranteed under 
part B, D, or E of title IV of the Higher Education 
Act of 1965 (20 U.S.C. 1071 et seq.; 1087a et seq.; 
VerDate Sep 11 2014 
21:02 Jun 12, 2022
Jkt 029200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H8006.IH
H8006
pbinns on DSKJLVW7X2PROD with $$_JOB
1087aa et seq.) before, on, or after the date of en-
actment of this Act; or 
(2) a loan under the Health Education Assist-
ance Loan Program under title VII of the Public 
Health Service Act (42 U.S.C. 292 et seq.) made be-
fore, on, or after the date of enactment of this Act. 
(c) LIMITATION.—The Secretary of Education, the 
Secretary of the Treasury, or the Attorney General may 
not implement, or publish in any form, any regulation, or 
take any action, that modifies, alters, amends, cancels, 
discharges, forgives, or defers the repayment of any stu-
dent debt not expressly permitted within statute or regula-
tion, regarding covered loans, except to the extent that 
such regulation or action reflects the clear and unequivocal 
intent of Congress in legislation. 
SEC. 4. REPEAL OF CERTAIN STUDENT LOAN FORGIVENESS 
MODIFICATIONS. 
(a) IN GENERAL.—Section 108(f) of the Internal 
Revenue Code of 1986 is amended by striking paragraph 
(5). 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to discharges of loans after the 
date of the enactment of this Act. 
VerDate Sep 11 2014 
21:02 Jun 12, 2022
Jkt 029200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H8006.IH
H8006
pbinns on DSKJLVW7X2PROD with $$_JOB
SEC. 5. PROHIBITION OF TAX DATA SHARING. 
(a) IN GENERAL.—Section 6103(l)(13)(D)(ii) of the 
Internal Revenue Code of 1986 is amended by adding ‘‘or 
return information for the purpose of administering a stu-
dent loan cancellation plan unrelated to reasons author-
ized under subparagraphs (A), (B), and (C)’’ after ‘‘inves-
tigations or prosecutions’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to disclosures made after the date 
of the enactment of this Act. 
Æ 
VerDate Sep 11 2014 
21:02 Jun 12, 2022
Jkt 029200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6301
E:\BILLS\H8006.IH
H8006
pbinns on DSKJLVW7X2PROD with $$_JOB