All Roll Calls
Yes: 455 • No: 323
118-hr-7463118th CongressWALLET
Extension of Continuing Appropriations and Other Matters Act, 2024
Sponsored By: Representative Granger, Kay [R-TX-12]
Became Law
Summary
This law halves the share of a student's income counted when calculating federal student aid, creating new minimum floors for award-year calculations. It also provides specific implementation funding and directs that these budget effects be excluded from PAYGO scorecards.
Show full summary
- Students and families: The law counts only 50 percent of the difference between a student’s total income and the student income adjustment when determining "available income." The floor is not less than -$1,500 for award year 2024-2025 and not less than $0 for award year 2025-2026 and later.
- Colleges and aid administration: It funds implementation with additional appropriations of $1.2 billion in FY2024, $3.2 billion in FY2025, $2.2 billion in FY2026, and $1.2 billion in FY2027 and each succeeding fiscal year.
- Federal budget process: The law says the division’s budgetary effects must not be entered on either PAYGO scorecard or estimated for certain budget allocation rules, so these costs are excluded from Senate and statutory PAYGO scorecards and some committee allocations.
*This law increases federal spending by providing additional appropriations of $1.2 billion in FY2024, $3.2 billion in FY2025, $2.2 billion in FY2026, and $1.2 billion annually from FY2027 onward.*
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
More funding to run FAFSA changes
The government provides extra money to run FAFSA changes and student aid systems. It gives $1.17 billion for FY2024, $3.17 billion for FY2025, $2.17 billion for FY2026, and $1.236 billion for FY2027 and every year after. These funds are on top of other funding and take effect now.
Lower counted income for FAFSA aid
The law changes how your FAFSA counts your income. Your “available income” now equals 50% of (total income minus the student income adjustment). For award year 2024–2025, the result cannot be less than -$1,500. For 2025–2026 and later, it cannot be less than $0. This can lower your expected payment and help you qualify for more need‑based aid. The change takes effect now and applies under the FAFSA Simplification Act rules.
Sponsors & CoSponsors
Sponsor
Granger, Kay [R-TX-12]
TX • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
senate vote • 2/29/2024
On Passage of the Bill H.R. 7463
Yes: 77 • No: 13
senate vote • 2/29/2024
On the Motion (Cruz Motion to Commit H.R. 7463 to the Committee on Appropriations with Instructions)
Yes: 32 • No: 58
senate vote • 2/29/2024
On the Motion (Lee Motion to Commit H.R. 7463 to the Committee on Appropriations with Instructions)
Yes: 12 • No: 77
senate vote • 2/29/2024
On the Motion (Marshall Motion to Commit H.R. 7463 to the Committee on Appropriations with Instructions)
Yes: 14 • No: 76
house vote • 2/29/2024
On Motion to Suspend the Rules and Pass
Yes: 320 • No: 99