S. 3487 aims to change the Internal Revenue Code of 1986 so that AmeriCorps educational awards are not counted as part of a person's gross income, meaning recipients won't have to pay taxes on these awards. The bill also proposes that any student loan debt forgiven through...
Simple Explanation
The bill wants to change the rules so that when someone receives money for education after helping their community through AmeriCorps, they don't have to pay taxes on it. It also says if someone has their student loans forgiven because of their national service, they won't have to pay taxes on that either.