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Read. Follow. Verify.Massachusetts bill creates a $2,000 state tax deduction for employers who pay employee student loans
Last action · July 2, 2026: Bill reported favorably by committee and referred to the committee on House Ways and MeansSponsor: Edward J. Kennedy
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What This Bill Would Do
Employers in Massachusetts can deduct up to $2,000 per employee for principal payments made on employee under a new tax deduction proposed in Senate Bill 2024.
Business corporations and resident employees gain a tax incentive for student loan repayment, directly lowering taxable income by up to $2,000 per worker.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Business corporations
Business corporations are allowed a deduction on their net income tax for education debt principal payments made on behalf of resident employees.
Commonwealth resident employees
Employees receive employer-paid student loan assistance that qualifies for tax-deductible treatment by the employer up to $2,000.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the maximum deduction an employer can claim per employee?
Who qualifies as an employee for this tax deduction?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently passed chamber. The next step in the legislative lifecycle is Law.
Procedural history
6 actions- Jul 2, 2026HouseCommitteeBill reported favorably by committee and referred to the committee on House Ways and Means
- Apr 1, 2026SenateReporting date extended to Thursday June 25, 2026
- Oct 3, 2025JointHearing rescheduled to 10/03/2025 from 10:00 AM-12:35 PM in Gardner Auditorium <br> <span style="color: blue; font-style: italic;">Hearing updated to New End Time</span>
- Sep 24, 2025JointHearing scheduled for 10/03/2025 from 10:00 AM-05:00 PM in Gardner Auditorium
- Feb 27, 2025HouseHouse concurred
- Feb 27, 2025SenateCommitteeReferred to the committee on Revenue
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Connected Entities
Sources
malegislature.gov
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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