Student Loan Marriage Penalty Elimination Act of 2026

This bill would change how married couples claim the student loan interest tax deduction by allowing each spouse to apply the $2,500 deduction limit separately rather than as a combined household limit. The change applies to tax years beginning after December 31, 2026, and would affect married couples filing jointly who have student loans in both spouses' names. Under current rules, the total deduction for both spouses combined cannot exceed $2,500, but this legislation would permit each spouse to claim up to $2,500 individually. The bill amends the Internal Revenue Code of 1986 to implement this separate calculation method while maintaining the overall dollar cap for each individual taxpayer.