S. 1581In Committee
Universal Savings Account Act of 2025
Establishes tax-advantaged Universal Savings Accounts that allow capped contributions and tax-free earnings and withdrawals for any purpose
Plain-English overview
What this bill does
Establishes tax-advantaged Universal Savings Accounts that allow capped contributions and tax-free earnings and withdrawals for any purpose
Key points
- Establish Universal Savings Accounts
- Limit annual contributions
- Allow tax free withdrawals
- Impose excise taxes
Current status
Where it stands
Status
In Committee
Latest action
2025-05-01 — Read twice and referred to the Committee on Finance.
Related context
Topics and policy areas
undefinedTaxation