Expand American Educational Opportunity Act of 2017
- Last Action
- 2/2/2017
Actions
- 2017-02-02Referred to the House Committee on Ways and Means.
- 2017-02-02Introduced in House
- 2017-02-02Introduced in House
CRS Summary
As of 2017-02-02 (00)
Expand American Educational Opportunity Act of 2017
This bill amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a modified American Opportunity Tax Credit that: (1) allows an income tax credit of up to $2,500 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) allows a lifetime dollar limitation for the credit of $15,000 for all taxable years, and (3) increases the refundable portion of the credit to a maximum of $1,500. The bill allows an exclusion from gross income of any amount received as a Federal Pell Grant.
Cosponsors (20)
- NANCY PELOSI (D-CA)
- RICHARD NEAL (D-MA)
- Julia Brownley (D-CA)
- Cheri Bustos (D-IL)
- G. K. Butterfield (D-NC)
- Matt Cartwright (D-PA)
- Joaquin Castro (D-TX)
- Judy Chu (D-CA)
- David Cicilline (D-RI)
- Steve Cohen (D-TN)
- JOHN CONYERS (D-MI)
- JOSEPH CROWLEY (D-NY)
- Henry Cuellar (D-TX)
- ELIJAH CUMMINGS (D-MD)
- DANNY DAVIS (D-IL)
- PETER DEFAZIO (D-OR)
- John Delaney (D-MD)
- ROSA DELAURO (D-CT)
- Suzan DelBene (D-WA)
- Theodore Deutch (D-FL)
Subjects
- Higher education
- Income tax credits
- Income tax exclusion
- Inflation and prices
- Student aid and college costs
Sourced from Congress.gov (public domain).
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