S143

The New York State Senate passed legislation amending the Tax Law related to federal student loan forgiveness, with a vote of 59-2 on Calendar Number 536 (S143), sponsored by Sen. Gianaris. The bill takes effect immediately. During floor debate, Sen. Martins voted in favor of the measure but expressed concern that it does not include tax credits for individuals who paid for their own college education through work. Martins argued that those who worked multiple jobs to fund their tuition should receive comparable tax benefits to those whose federal student loans are forgiven, noting it seems inequitable to provide tax relief only for loan forgiveness while excluding those who paid out-of-pocket for higher education. Only Senators Walczyk and Weber voted against the bill.