HR7756Referred to Committee

First-time Homebuyer Savings Account Act of 2026

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-03-03
Introduced
0
Cosponsors
HR
ⓘ
Type

Sponsor

Tom Barrett
Tom Barrett
Republican · MI · Representative
Votes with party: 97.0% (603 recorded votes)
Top industries funding sponsor:
  • Veterans$5,099k
  • Progressive Groups$100k

Full profile: /officials/B001321

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

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 →

Referred to the House Committee on Ways and Means.

2026-03-03

Source: Congress.gov

Plain-English Summary

This bill would create special savings accounts that allow first-time homebuyers to set aside money tax-free to use toward purchasing their first home, similar to how retirement accounts work. People could contribute to these accounts and withdraw the savings without paying taxes on the earnings, making it easier to save for a down payment. The accounts would help younger and lower-income Americans afford to buy homes by reducing the tax burden on their savings.

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
Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

Related legislation

Bills by the same sponsor or covering overlapping subjects.