HR3186Referred to Committee
Universal Savings Account Act of 2025
Introduced
In Committee
3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2025-05-05
Introduced
1
Cosponsors
HR
ⓘType
Sponsor
Diana Harshbarger
Republican · TN · Representative
Votes with party: 92.5% (599 recorded votes)
Full profile: /officials/H001086
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
1 cosponsor on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Committee Activity
Currently in
- House Committee on Ways and MeansReferred To · 2025-05-05
Plain-English Summary
The proposal would create a new type of savings account that allows individuals to set aside money for any purpose without the current restrictions that apply to retirement accounts like 401(k)s and IRAs. People could contribute after-tax dollars to these accounts and withdraw the money whenever they want for any reason without penalties, while the earnings would grow tax-free. This would primarily benefit savers and workers looking for more flexible ways to build personal savings outside of traditional retirement accounts.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Subjects
Taxation
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