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Increased Pell Grants and Tax Law Changes

This act increases the maximum Federal Pell Grant amount, potentially helping students cover education costs. Simultaneously, it introduces changes to tax provisions regarding exemptions and allowances, which may impact citizens' personal finances and heirs.
Key points
Increase in the maximum Pell Grant amount to $13,800 for the 2022-2023 academic year and subsequent years, making higher education more accessible.
Changes to how the Pell Grant amount is calculated, including an inflation adjustment (Consumer Price Index) from 2023-2024 onwards.
Repeal of the increased alternative minimum tax exemption for individuals, effective for tax years beginning after December 31, 2021.
Repeal of the increased estate and gift tax exemption, effective for estates and gifts made after the act's enactment date, potentially affecting estate planning.
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Expired
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Additional Information
Print number: 117_HR_7880
Sponsor: Rep. Carbajal, Salud O. [D-CA-24]
Process start date: 2022-05-27
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Degrees Not Debt Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7880.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-05-27.

What are the main provisions?

Key points include:

  • Increase in the maximum Pell Grant amount to $13,800 for the 2022-2023 academic year and subsequent years, making higher education more accessible.
  • Changes to how the Pell Grant amount is calculated, including an inflation adjustment (Consumer Price Index) from 2023-2024 onwards.
  • Repeal of the increased alternative minimum tax exemption for individuals, effective for tax years beginning after December 31, 2021.
  • Repeal of the increased estate and gift tax exemption, effective for estates and gifts made after the act's enactment date, potentially affecting estate planning.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Carbajal, Salud O. [D-CA-24].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Education Taxes