I 
117TH CONGRESS 
2D SESSION 
H. R. 7880 
To increase the total maximum Federal Pell Grant, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 27, 2022 
Mr. CARBAJAL introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on Edu-
cation and Labor, for a period to be subsequently determined by the 
Speaker, in each case for consideration of such provisions as fall within 
the jurisdiction of the committee concerned 
A BILL 
To increase the total maximum Federal Pell Grant, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Degrees Not Debt Act 
of 2022’’. 
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SEC. 2. INCREASE IN THE MAXIMUM AMOUNT OF A FED-
ERAL PELL GRANT. 
(a) AWARD YEAR 2022–2023.—Section 401(b)(7)(C) 
of the Higher Education Act of 1965 (20 U.S.C. 
1070a(b)(7)(C)) is amended— 
(1) in clause (i)(I), by striking ‘‘clause (iv)(II)’’ 
and inserting ‘‘clause (v)(II)’’; 
(2) in clause (ii)(I), by striking ‘‘clause (iv)(II)’’ 
and inserting ‘‘clause (v)(II)’’; 
(3) by amending clause (iii) to read as follows: 
‘‘(iii) 
AWARD
YEARS
2018–2019 
THROUGH
2021–2022.—For award years 
2018–2019 
through 
2021–2022, 
the 
amount determined under this subpara-
graph 
for 
purposes 
of 
subparagraph 
(B)(iii) shall be equal to the amount deter-
mined under clause (ii) for award year 
2017–2018.’’; 
(4) by redesignating clause (iv) as clause (v); 
and 
(5) by inserting after clause (iii) (as amended 
by this subsection) the following: 
‘‘(iv) AWARD
YEAR
2022–2023.—For 
award year 2022–2023, the amount deter-
mined under this subparagraph for pur-
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poses of subparagraph (B)(iii) shall be 
equal to— 
‘‘(I) $13,800; reduced by 
‘‘(II) the maximum Federal Pell 
Grant for which a student was eligible 
for the preceding award year, as spec-
ified in the last enacted appropriation 
Act applicable to that year; and 
‘‘(III) rounded to the nearest 
$5.’’. 
(b) AWARD YEAR 2023–2024 AND SUBSEQUENT 
AWARD YEARS.— 
(1) AMENDMENT TO AWARD AMOUNT.—Section 
401(b)(5)(A)(i) of the Higher Education Act of 
1965 (20 U.S.C. 1070a(b)(5)(A)(i)), as amended by 
section 703 of the FAFSA Simplification Act (title 
VII of division FF of Public Law 116–260), is 
amended to read as follows: 
‘‘(i) $13,800 reduced by the amount 
specified as the maximum Federal Pell 
Grant in the last enacted appropriation 
Act applicable to that award year, except 
that for each award year subsequent to 
award year 2023–2024, this clause shall be 
applied by substituting ‘the amount that is 
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equal to $13,800, increased by a percent-
age equal to the annual adjustment per-
centage for the award year for which the 
amount under this subparagraph is being 
determined, then’ for ‘$13,800’; and’’. 
(2) DEFINITION.—Section 401(a)(2) of the 
Higher 
Education 
Act 
of 
1965 
(20 
U.S.C. 
1070a(a)(2)), as amended by section 703 of the 
FAFSA Simplification Act (title VII of division FF 
of Public Law 116–260), is amended— 
(A) in subparagraph (E), by striking 
‘‘and’’ after the semicolon; 
(B) in subparagraph (F), by striking the 
period and inserting ‘‘; and’’; and 
(C) by adding at the end the following: 
‘‘(G) the term ‘annual adjustment percent-
age’ as applied to an award year, is equal to the 
estimated percentage change in the Consumer 
Price Index (as determined by the Secretary, 
using the definition in section 478(f)) for the 
most recent calendar year ending prior to the 
beginning of that award year.’’. 
(3) EFFECTIVE DATE.—The amendments made 
by this subsection shall take effect as if included in 
section 703 of the FAFSA Simplification Act (title 
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VII of division FF of Public Law 116–260) and in 
accordance with section 701(b) of such Act. 
SEC. 3. REPEAL OF INCREASED ALTERNATIVE MINIMUM 
TAX EXEMPTION AMOUNT FOR INDIVIDUALS. 
(a) IN GENERAL.—Section 55(d) of the Internal Rev-
enue Code of 1986 is amended by striking paragraph (4). 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
December 31, 2021. 
SEC. 4. REPEAL OF INCREASED ESTATE AND GIFT TAX EX-
EMPTION. 
(a) IN GENERAL.—Section 2010(c)(3)(C) of the In-
ternal Revenue Code of 1986 is amended by striking ‘‘Jan-
uary 1, 2026’’ and inserting ‘‘the date of the enactment 
of the Degrees Not Debt Act of 2022’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to estates of decedents dying and 
gifts made after the date of the enactment of this Act. 
Æ 
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