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Expand American Educational Opportunity Act of 2021
12/31/2022, 4:58 AM
Summary of Bill HR 4174
One key aspect of the bill is the establishment of a grant program to support the development and implementation of innovative educational programs. These programs would aim to improve student outcomes, increase graduation rates, and provide students with the skills they need to succeed in the workforce.
Additionally, the bill includes provisions to increase access to career and technical education programs, as well as support for dual enrollment programs that allow high school students to earn college credit while still in high school. These initiatives are designed to help students prepare for the workforce and pursue higher education opportunities. Overall, the Expand American Educational Opportunity Act of 2021 seeks to address disparities in educational access and outcomes by providing support for innovative programs and initiatives that will benefit students across the country.
Congressional Summary of HR 4174
Expand American Educational Opportunity Act of 2021
This bill replaces 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 defines qualified tuition and related expenses as tuition, fees, computer or peripheral equipment, child and dependent care expenses, and course materials for the taxpayer, the taxpayer's spouse, and dependents at certain postsecondary educational institutions.
The bill also allows an exclusion from gross income, for income tax purposes, of any amount received as a Federal Pell Grant.
