Bennet, Warnock, Lankford Fight for Student Debt Tax Relief for Married Couples

Mar 25, 2026| Press Releases

The bipartisan Student Loan Marriage Penalty Elimination Act would end the marriage penalty for deducting student loan debt interest payments for married couples

Washington, D.C. - Colorado U.S. Senator Michael Bennet joined Reverend Raphael Warnock (D-GA), James Lankford (R-OK), and Cynthia Lummis (R-WY), to introduce the bipartisan Student Loan Marriage Penalty Elimination Act, legislation that would end the marriage penalty for deducting student loan debt interest payments. Senators Bennet, Warnock, and Lankford are all members of the Senate Finance Committee, with jurisdiction over tax legislation.

"I hear repeatedly from Coloradans who are struggling in an economy they feel has left them behind - and rising student loans have not made it easier. This is especially true for married couples who face an unfair penalty when deducting student loan debt interest payments. The Student Loan Marriage Penalty Elimination Act will undo this unfair obstacle for married couples so that they can purchase homes, start a business, and build a family," said Bennet.

"Couples shouldn't be penalized for affirming their love for one another," said Warnock. "The bipartisan Student Loan Marriage Penalty Elimination Act shows that what is often the right thing to do is also the smart thing to do. This bill will put dollars back into the pockets of married couples and families, and I am proud to work alongside Senator Lankford on this commonsense bill."

"Marriage should never come with a tax penalty. For too long, couples with student loan debt have been treated unfairly simply because they file jointly. I've long worked to eliminate marriage penalties in the tax code, and this bill takes a commonsense step to ensure married couples are treated fairly," said Lankford.

"Marriage shouldn't come at the price of unfair tax penalties," said Lummis. "The Student Loan Marriage Penalty Elimination Act removes unnecessary tax burdens, strengthens financial stability for American families, and puts more money back where it belongs-into their households. I'm proud to join Senator Lankford and Senator Warnock on this commonsense measure."

Under current law, individuals may deduct up to $2,500 in student loan interest payments from their income. Married individuals are subject to the same $2,500 total limit, even if both individuals in the couple have made student loan interest payments. The Student Loan Marriage Penalty Elimination Act would remove this marriage penalty so that the deduction could be claimed by each person in a married couple: $5,000 total.

The text of the bill is available HERE.

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