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. 
 
The legislation will also expand access to the AOTC, now granting access to taxpayers convicted of low-level felony drug offenses.
 
The income limits have also been changed to $125,000 single filer/$250,000 joint filer. Credit will be completely phased out after $150,000 for single filers and $300,000 for joint filers.
 
Senator Brown said that even before the pandemic, college students were struggling to keep up with the constantly rising costs of higher education and feels not enough is being done to help these struggling students.
 
"We must make sure that federal financial aid is designed in a way that meets the needs of students today and increases the academic and financial opportunities available to them. I'm glad to join my colleagues to support this effort," Brown said.
 
The bill has been endorsed by the National Association of Independent Colleges and Universities (NAICU), as well as Rutger's University, the Association of Public and Land-grant Universities (APLU) and the Association of American Universities (AAU)