The America's College Promise Act of 2026 establishes a federal-state partnership to make community college tuition and fees free for eligible students, with the federal government covering 100 percent of average tuition costs initially and declining to 80 percent by 2032, while states gradually increase their share to 20 percent over the same period. States and tribal colleges must apply by submitting plans that detail how they will eliminate tuition, provide student support services, implement educational reforms to improve completion rates, and establish transfer pathways to four-year institutions, while also aligning high school graduation requirements with community college standards and maintaining baseline state funding levels for higher education. The bill creates additional funding streams, including a $1 billion annual Student Success Fund to improve outcomes for underserved populations and targeted grants to Historically Black Colleges and Universities, Tribal Colleges, and Minority-Serving Institutions, with federal appropriations escalating from $98.1 million in 2027 to $2.5 billion annually by 2036. States experiencing economic hardship based on unemployment levels can request waivers that reduce their cost-sharing obligations, with the most economically distressed states potentially receiving fully federally-funded programs. All participating institutions must submit annual reports on fund usage and student outcomes, and states may be subject to funding reductions if they fail to comply with grant requirements or implement required reforms.