HR3186Referred to Committee

Universal Savings Account Act of 2025

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-05-05
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Diana Harshbarger
Diana Harshbarger
Republican · TN · Representative
Votes with party: 92.8% (545 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 →

Referred to the House Committee on Ways and Means.

2025-05-05

Source: Congress.gov

Committee Activity

Currently in

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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Related legislation

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