American Opportunity Accounts Act
Latest action · Feb 14, 2023 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 14, 2023
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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 33
Members who signed on, in the order they did. Signatures ran from Feb 14, 2023 to Jun 11, 2024, with 30 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Alexandria Ocasio-Cortez | Original | Feb 14, 2023 |
| D-IN | André Carson | Original | Feb 14, 2023 |
| D-CA | Barbara Lee | Original | Feb 14, 2023 |
| D-MS | Bennie G. Thompson | Original | Feb 14, 2023 |
| D-NJ | Bonnie Watson Coleman | Original | Feb 14, 2023 |
| D-MO | Cori Bush | Original | Feb 14, 2023 |
| D-IL | Danny K. Davis | Original | Feb 14, 2023 |
| D-PA | Dwight Evans | Original | Feb 14, 2023 |
| D-OR | Earl Blumenauer | Original | Feb 14, 2023 |
| D-DC | Eleanor Holmes Norton | Original | Feb 14, 2023 |
| D-MO | Emanuel Cleaver | Original | Feb 14, 2023 |
| D-NY | Grace Meng | Original | Feb 14, 2023 |
| D-TX | Greg Casar | Original | Feb 14, 2023 |
| D-MN | Ilhan Omar | Original | Feb 14, 2023 |
| D-MA | Jake Auchincloss | Original | Feb 14, 2023 |
Actions 2
Everything that happened, newest first.
- Feb 14, 2023Introduced in House
- Feb 14, 2023Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 441 | American Opportunity Accounts Act | Related bill | Feb 15, 2023 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- 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
- Taxation
- Vocational and technical education
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- Feb 14, 2023Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.