The Segal AmeriCorps Education Award Tax Relief Act of 2026 would exclude AmeriCorps educational awards from federal income taxation. Currently, AmeriCorps participants who receive education awards to pay for college tuition, student loan repayment, or other qualified education expenses must count those awards as taxable income. This bill would change that by allowing participants to exclude these awards from their gross income for tax purposes, effectively providing tax relief to AmeriCorps volunteers. The legislation would apply to all taxable years after it is enacted and affects AmeriCorps participants nationwide who use their service awards for educational purposes. The bill was introduced by a bipartisan group of senators including Michael Bennet, Bill Cassidy, Catherine Cortez Masto, Susan Collins, Chris Coons, and Roger Wicker, and was referred to the Senate Committee on Finance.