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HR 3186 - 119

Universal Savings Account Act of 2025

Referred to the House Committee on Ways and Means.

Bill highlights

Votes, text signals, source context, and latest movement from this record.

Bill Text Stats

7
Analyzed sections
$60,900
Detected dollar total
6
Tax signals
1
Deadlines

Signal counts

Tax density 85.7%
Spending density 114.3%
Amendments 8
Spending 8
Tax 6
Benefits 2
Deadline 1

Top agencies

N/A

Statutory references

N/A

House Votes

No House roll call votes have been linked to this bill yet.

Timeline

May 5, 2025

Introduced in House

May 5, 2025

Introduced in House

May 5, 2025

Referred to the House Committee on Ways and Means.

Affected Sectors

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Finance and banking
9 evidence matches
Impact 91% Confidence 73%

such time and in such manner and furnished to such individuals at such time and in such manner as may be required.. (b) Tax on excess contributions (1) In general Section 4973(a) is amended by striking or at the end of paragraph (5), by ins

530U), the term excess contributions means the sum of— (A) the amount (if any) by which the amount contributed for the taxable year to such accounts (other than qualified rollover contributions (as defined in section 530U(d))) exceeds the

is amended by manner and furnished to such individuals at such time and in such manner as may be required.''. (b) Tax on Excess Contributions.-- (1) In general.--Section 4973(a) is amended by striking ``or'' at the end of paragraph (5), by

CBO Cost Estimates

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Campaign Finance Context

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Summary

00 Introduced in House Aug 31, 2026

Universal Savings Account Act of 2025 This bill establishes Universal Savings Accounts, which are tax-advantaged savings accounts that allow contributions up to a certain amount, exempt earnings and distributions from federal income taxes, and allow distributions to be used for any purpose. (Conditions and exceptions apply.) Specifically, the bill allows cash contributions to a Universal Savings Account of up to $10,000 in 2025 (maximum base contribution), excluding qualified amounts rolled over from another tax-advantaged account (e.g., individual retirement account). The maximum base contribution amount is increased by $500 each year beginning in 2026 and adjusted annually for inflation, up to a total maximum contribution of $25,000 (also adjusted annually for inflation beginning in 2026). Under the bill, earnings and distributions from a Universal Savings Account are excluded from gross income for federal tax purposes and, thus, are not subject to federal income taxes (similar to the federal tax treatment of distributions from a Roth individual retirement account). (Some exceptions apply.) Further, distributions from such accounts are not restricted and may be used for any purpose (unlike other types of tax-advantaged accounts currently available). The bill also imposes a federal excise tax on contributions to a Universal Savings Account in excess of the applicable contribution limit, a federal excise tax on certain transactions involving a Universal Savings Account and disqualified persons, certain reporting requirements on Universal Savings Account trustees, and a federal excise tax for failing to meet such reporting requirements.

Sponsors

Amendments

No amendment records are currently available for this bill.
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