U.S. Senators, Sherrod Brown (D-OH), Bob Menendez (D-NJ), Ron Wyden (D-OR) and Alex Padilla (D-CA) have introduced legislation to expand the American Opportunity Tax Credit (AOTC).
This extension intends to make college more affordable for working families by doubling the credit to 100% of up to $5,000 of eligible expenses to keep up with the rising costs of college.
In addition, the legislation will make the credit entirely refundable so low-income Americans can reap the full benefits of the tax credit.
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