Educators Expense Deduction Modernization Act of 2023

Bill: 118-s-2731
Sponsor: full_name: Sen. Brown, Sherrod [D-OH]
Introduced: 2023-09-06
Policy area: Taxation
Latest action: action_date: 2023-09-06
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2023-09-06
action_desc: Introduced in Senate
text: <p><strong>Educators Expense Deduction Modernization Act of </strong><b>2023</b></p> <p>This bill increases from $300 to $1,000 the tax deduction for the expenses of eligible educators. An eligible educator is, with respect to any taxable year, an individual who is a K-12 teacher, instructor, counselor, principal, or aide in a school for at least 900 hours during a school year. The bill also requires the amount of the deduction to be adjusted annually for inflation. </p>

tv_txt: II 118th CONGRESS 1st Session S. 2731 IN THE SENATE OF THE UNITED STATES September 6, 2023 Mr. Brown (for himself, Mr. Casey , Ms. Smith , Ms. Klobuchar , Mr. Van Hollen , Mr. Murphy , Mrs. Shaheen , Mr. Padilla , Mr. Menendez , and Mr. King ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to increase the deduction for certain expenses of elementary and secondary school teachers.

1. Short title This Act may be cited as the Educators Expense Deduction Modernization Act of 2023 . 2. Increase in deduction for certain expenses of elementary and secondary school teachers (a) In general Section 62(a)(2)(D) of the Internal Revenue Code of 1986 is amended— (1) by striking elementary and secondary school teachers in the heading and inserting eligible educators , and (2) by striking $250 and inserting $1,000 . (b) Conforming amendments Section 62(d)(3) of the Internal Revenue Code of 1986 is amended— (1) by striking 2015 and inserting 2023 , (2) by striking $250 and inserting $1,000 , and (3) by striking calendar year 2014 and inserting calendar year 2022 . (c) Effective date The amendments made by this section shall apply with respect to taxable years beginning December 31, 2022.