The main purpose of this legislation is to change how married couples can claim the student loan interest deduction on their taxes. Currently, when couples file their taxes together, they face limitations that can make it harder to benefit from this deduction. This bill aims to eliminate what is known as the "marriage penalty" by allowing each spouse to apply the deduction separately. Key provisions of the bill include allowing each spouse to claim up to $2,500 in student loan interest deductions individually, rather than being limited by a combined cap when filing jointly.