HOUSE 1041118th CongressReferred to the House Committee on Ways and Means.
American Opportunity Accounts Act
- Last Action
- 2/14/2023
Actions
- 2023-02-14Referred to the House Committee on Ways and Means.
- 2023-02-14Introduced in House
- 2023-02-14Introduced in House
CRS Summary
As of 2023-02-14 (00)
American Opportunity Accounts Act
This bill establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. The accounts are available to children at age 18 for specified purposes, including educational expenses, home ownership, and investment that provides long-term returns.
Cosponsors (20)
- Rashida Tlaib (D-MI)
- Bonnie Watson Coleman (D-NJ)
- Joyce Beatty (D-OH)
- Jake Auchincloss (D-MA)
- Troy Carter (D-LA)
- BARBARA LEE (D-CA)
- Pramila Jayapal (D-WA)
- Jamaal Bowman (D-NY)
- ELEANOR NORTON (D-DC)
- DANNY DAVIS (D-IL)
- Dwight Evans (D-PA)
- EARL BLUMENAUER (D-OR)
- Ilhan Omar (D-MN)
- Seth Moulton (D-MA)
- Grace Meng (D-NY)
- JOHN LARSON (D-CT)
- André Carson (D-IN)
- BENNIE THOMPSON (D-MS)
- Emanuel Cleaver (D-MO)
- Yvette Clarke (D-NY)
Subjects
- Advisory bodies
- Congressional oversight
- Employee benefits and pensions
- Executive agency funding and structure
- Financial services and investments
- Government studies and investigations
- Government trust funds
- Higher education
- Housing finance and home ownership
- Income tax exclusion
- Inflation and prices
- Securities
- Student aid and college costs
- Tax administration and collection, taxpayers
- Vocational and technical education
- Wages and earnings
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.