Personal Income Tax Law: Corporation Tax Law: credits: student loan payments.

CA AB386 aimed to create new tax credits for individuals making student loan payments, as well as for corporations. The bill sought to provide financial relief to those burdened by student debt and incentivize businesses to support their employees' education costs. However, the bill ultimately did not pass.

Supporters of CA AB386 would argue that the bill was a necessary step towards alleviating the financial strain on students and graduates struggling with student loan payments. They would emphasize that the proposed tax credits could encourage more individuals to pursue higher education and reduce the overall burden of student debt in California.

Critics of CA AB386 might contend that the bill represented an unnecessary expansion of tax credits that could lead to further budget deficits. They could argue that the focus should be on more comprehensive solutions to the student debt crisis rather than temporary tax relief measures that may not address the root causes of the issue.