Universal Savings Account Act of 2025

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3186 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3186 To amend the Internal Revenue Code of 1986 to create Universal Savings Accounts. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 5, 2025 Mrs. Harshbarger introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to create Universal Savings Accounts. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Universal Savings Account Act of 2025''. SEC. 2. UNIVERSAL SAVINGS ACCOUNTS. (a) In General.--Subchapter F of Chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part: ``PART IX--UNIVERSAL SAVINGS ACCOUNTS ``SEC. 530A. UNIVERSAL SAVINGS ACCOUNTS. ``(a) General Rule.--A Universal Savings Account shall be exempt from taxation under this subtitle. Notwithstandi…