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HR7185Referred to Committee

Home Savings Act

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-01-21
Introduced
5
Cosponsors
HR
ⓘ
Type

Sponsor

John J. McGuire III
John J. McGuire III
Republican · VA · Representative
Votes with party: 94.3% (600 recorded votes)

Full profile: /officials/M001239

Source: Congress.gov · FEC

Cosponsors (5)

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

  • Randy K. Weber, Sr. (R-TX-14)· 2026-01-30
  • Mike Collins (R-GA-10)· 2026-02-11
  • Pat Harrigan (R-NC-10)· 2026-02-20
  • Jeff Crank (R-CO-5)· 2026-02-23
  • Jefferson Van Drew (R-NJ-2)· 2026-04-09

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.

2026-01-21

Source: Congress.gov

Committee Activity

Currently in

  • House Committee on Ways and MeansReferred To · 2026-01-21

Previously

  • Ways and Means CommitteeReferred To · 2026-01-21

Plain-English Summary

This bill would likely create or expand tax-advantaged savings accounts that allow people to set aside money for home purchases with reduced tax burdens. The proposal would help first-time homebuyers and others save for down payments or home-related expenses by offering tax breaks on contributions or earnings in these dedicated accounts. The specific details of which savings vehicles would be created or modified would depend on the bill's full text.

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.

  • HR9756To direct the Director of the Bureau of Prisons to provide medication assisted treatment for opioid addiction to certain women.
    Referred to Committee · 2026-07-16
  • HR9633Birthright Citizenship Clarification Act of 2026
    Referred to Committee · 2026-07-09
  • HR9522National Patriot Day Remembrance Flag Act
    Referred to Committee · 2026-06-29
  • HR5103Make the District of Columbia Safe and Beautiful Act of 2025
    Passed House · 2026-06-16