Minnesota may tax student debt relief?

[question everything]

https://www.democraticunderground.com/100217127310

Under § 9675 of the American Rescue Plan Act (ARPA), however, the forgiveness of student loan debt between 2021 and 2025 does not count toward federal taxable income.

Minnesota’s conformity date is December 31, 2018, which is well prior to ARPA, and the state currently lacks any other provision to exclude student loan debt cancellation from income.

[JohnSJ]

1. Then the Democratic legislature should change that

[progree]

2. The state senat is RepubliCON. But since they are supposedly anti-tax, a few might go along with it

[JohnSJ]

3. I didn't know that. Thanks

[Mawspam2]

4. Why should anyone be taxed? It's not...

...like people are getting a check in the mail. The Feds own the loan and are simply deleting $10k ($20k) from the balance sheet.

[question everything]

5. I think that whenever a debt is forgiven, it is considered an income

I think that during the last recession, when many owed more on their houses than the house's value and they were negotiating with the mortgage holders, this was an issue.