First Home Savings Opportunity Act of 2025

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 6542 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 6542 To amend the Internal Revenue Code of 1986 to allow the establishment of down payment savings accounts. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES December 9, 2025 Mr. Subramanyam (for himself, Mrs. Hinson, Mr. Thanedar, and Ms. Norton) 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 allow the establishment of down payment 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 ``First Home Savings Opportunity Act of 2025''. SEC. 2. DOWN PAYMENT SAVINGS ACCOUNT. (a) In General.--Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 223 the following new section: ``SEC. 223A. DOWN PAYMENT SAVINGS ACCOUNT. ``(a) Dedu…