Lowering Inflated Heating, Energy, and Air Conditioning Prices Act or the LIHEAP Act This bill increases for FY2023-FY2024 the federal income eligibility threshold for the Low-Income Home Energy Assistance Program, which provides federal grants to states, tribes, and territories to assist low-income households pay for heating and cooling costs. Currently, households are eligible with incomes at or below 150% of the poverty rate or 60% of the median income of their applicable state, tribe, or territory. This bill permits payments to households with incomes that are 75% of the applicable median income.