A group of legislators recently introduced a measure they said seeks to aid higher education affordability and access.
U.S. Sens. Sheldon Whitehouse (D-RI), Ron Wyden (D-OR), Patty Murray (D-WA), Michael Bennet (D-CO), Sherrod Brown (D-OH), Tina Smith (D-MN), and Debbie Stabenow (D-MI) recently presented the Tax-Free Pell Grant Act to assist students in taking advantage of higher education tax credits and Pell Grants.
“The Pell Grant has helped generations of Americans earn a college degree,” Whitehouse said. “We ought to make sure it can continue to provide that benefit for generations to come. The Tax-Free Pell Grant Act would invest in our young peoples’ futures by maximizing, expanding, and streamlining existing higher education tax incentives.”
The existing tax code prevents some students from experiencing full American Opportunity Tax Credit (AOTC) and Pell Grant program benefits. The bill would eliminate higher education financial barriers to higher education by enhancing Pell Grants and AOTC collaboration.
“Pell grants have allowed millions of first-generation college students to afford higher education and build a better future, but there’s more we can do to ensure students are able to take advantage of federal financial help. Tax free financial aid is a good place to start,” Wyden said. “It’s an investment in our young people, and I’m all in on this effort to make college degrees more accessible.”