AmeriCorps: Together Improving Our Nation Act or the ACTION Act - Amends the National and Community Service Act of 1990 to alter the formula for determining the amount of the national service educational award to base the award on the average cost of attending a four-year institution of higher education, rather than a portion of a veteran's basic educational assistance allowance.
Excludes the national service educational award from an individual's gross income for tax purposes.
Permits the Corporation for National and Community Service to support a national service program that is carried out by another federal agency and implements the priorities of such agency.
Makes Chief Executive Officer of the Corporation a Cabinet position. Raises the Officer's compensation to Level I of the Executive Schedule.
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