Section 1. Short title
This Act may be cited as the Student Loan Marriage Penalty Elimination Act of 2026.
(a) In general
Section 221(b)(1) of the Internal Revenue Code of 1986 is amended to read as follows:
(1) In general
The interest taken into account with respect to a taxpayer for a taxable year under subsection (a) for indebtedness incurred by an individual shall not exceed $2,500.
(b) Conforming amendments
Section 221 of such Code is amended—
(1) in subsection (b), by striking the heading and inserting Dollar limitations, and
(2) by amending subsection (e) to read as follows:
(e) Denial of double benefit
No deduction shall be allowed under this section for any amount for which a deduction is allowable under any other provision of this chapter.
(c) Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2026.