H.R. 2543, titled the "Tax-Free Pell Grant Act," proposes to amend the Internal Revenue Code to exclude Pell Grants from taxable income. It also expands the American Opportunity and Lifetime Learning Credits by allowing the inclusion of expenses for computer equipment and...
Simple Explanation
H.R. 2543 wants to make sure that people who get special school money called Pell Grants don't have to pay taxes on it, and it also wants to help with school costs like computers and daycare by giving more money back to families when they pay their taxes.