HR5438Referred to Committee

Incentivize Savings Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-09-17
Introduced
69
Cosponsors
HR
ⓘ
Type

Sponsor

Richard McCormick
Richard McCormick
Republican · GA · Representative
Votes with party: 94.9% (670 recorded votes)

Full profile: /officials/M001218

Source: Congress.gov · FEC

Cosponsors (69)

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

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 →

Ordered to be Reported (Amended) by the Yeas and Nays: 25 - 19.

2026-02-04

Source: Congress.gov

Committee Activity

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Plain-English Summary

Incentivize Savings Act This bill establishes requirements for allocating unexpended appropriations for federal agencies. If appropriations are provided to a federal agency for a definite period and the agency does not spend the funds during the period of availability, the bill requires 49% of the funds to remain available for an additional fiscal year, 49% of the funds to be used for payments of principal and interest on the public debt, and 2% of the funds to be used for retention bonuses within the agency that do not exceed 10% of an employee's basic pay. If an agency's unexpended appropriations are allocated under this bill, the agency's budget request for the fiscal year following the fiscal year in which the funds expired may not exceed the prior year's budget request with an adjustment for inflation.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Economics and Public Finance
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