Legis Daily

American Opportunity Accounts Act

USA117th CongressS-222| Senate 
| Updated: 2/4/2021
Cory A. Booker

Cory A. Booker

Democratic Senator

New Jersey

Cosponsors (15)
Richard J. Durbin (Democratic)Edward J. Markey (Democratic)Charles E. Schumer (Democratic)Kirsten E. Gillibrand (Democratic)Elizabeth Warren (Democratic)Christopher A. Coons (Democratic)Amy Klobuchar (Democratic)Chris Van Hollen (Democratic)Martin Heinrich (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Tammy Baldwin (Democratic)Jeff Merkley (Democratic)Richard Blumenthal (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline

Bill from Previous Congress

S 116-2231
American Opportunity Accounts Act
Feb 4, 2021

Latest Companion Bill Action

HR 117-835
Introduced in House
Feb 4, 2021
Introduced in Senate
Feb 4, 2021
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-2231
    American Opportunity Accounts Act


  • February 4, 2021

    Latest Companion Bill Action

    HR 117-835
    Introduced in House


  • February 4, 2021
    Introduced in Senate


  • February 4, 2021
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 117-835: American Opportunity Accounts Act
Advisory bodiesCongressional oversightEmployee benefits and pensionsExecutive agency funding and structureFinancial services and investmentsGovernment studies and investigationsGovernment trust fundsHigher educationHousing finance and home ownershipIncome tax exclusionInflation and pricesSecuritiesStudent aid and college costsTax administration and collection, taxpayersVocational and technical educationWages and earnings

American Opportunity Accounts Act

USA117th CongressS-222| Senate 
| Updated: 2/4/2021
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-2231
American Opportunity Accounts Act
Feb 4, 2021

Latest Companion Bill Action

HR 117-835
Introduced in House
Feb 4, 2021
Introduced in Senate
Feb 4, 2021
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-2231
    American Opportunity Accounts Act


  • February 4, 2021

    Latest Companion Bill Action

    HR 117-835
    Introduced in House


  • February 4, 2021
    Introduced in Senate


  • February 4, 2021
    Read twice and referred to the Committee on Finance.
Cory A. Booker

Cory A. Booker

Democratic Senator

New Jersey

Cosponsors (15)
Richard J. Durbin (Democratic)Edward J. Markey (Democratic)Charles E. Schumer (Democratic)Kirsten E. Gillibrand (Democratic)Elizabeth Warren (Democratic)Christopher A. Coons (Democratic)Amy Klobuchar (Democratic)Chris Van Hollen (Democratic)Martin Heinrich (Democratic)Sherrod Brown (Democratic)Bernard Sanders (Independent)Brian Schatz (Democratic)Tammy Baldwin (Democratic)Jeff Merkley (Democratic)Richard Blumenthal (Democratic)

Finance Committee

Taxation

Related Bills

  • HR 117-835: American Opportunity Accounts Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Advisory bodiesCongressional oversightEmployee benefits and pensionsExecutive agency funding and structureFinancial services and investmentsGovernment studies and investigationsGovernment trust fundsHigher educationHousing finance and home ownershipIncome tax exclusionInflation and pricesSecuritiesStudent aid and college costsTax administration and collection, taxpayersVocational and technical educationWages and earnings