American Opportunity Accounts Act
USA118th CongressHR-1041| House
| Updated: 2/14/2023
Ayanna Pressley
Democratic Representative
Massachusetts
Cosponsors (33)
Dwight Evans (Democratic)Barbara Lee (Democratic)Joyce Beatty (Democratic)Emanuel Cleaver (Democratic)Joe Courtney (Democratic)Ilhan Omar (Democratic)Troy A. Carter (Democratic)Madeleine Dean (Democratic)Rosa L. DeLauro (Democratic)Greg Casar (Democratic)Danny K. Davis (Democratic)Jake Auchincloss (Democratic)Jasmine Crockett (Democratic)André Carson (Democratic)John B. Larson (Democratic)Sara Jacobs (Democratic)Dean Phillips (Democratic)Pramila Jayapal (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Janice D. Schakowsky (Democratic)Alexandria Ocasio-Cortez (Democratic)Summer L. Lee (Democratic)Yvette D. Clarke (Democratic)Bennie G. Thompson (Democratic)Earl Blumenauer (Democratic)Seth Moulton (Democratic)Elissa Slotkin (Democratic)Nanette Diaz Barragán (Democratic)Grace Meng (Democratic)Rashida Tlaib (Democratic)Jamaal Bowman (Democratic)Cori Bush (Democratic)
Ways and Means 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
Introduced in House
Referred to the House Committee on Ways and Means.
Taxation
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
USA118th CongressHR-1041| House
| Updated: 2/14/2023
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 TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Ways and Means.
Ayanna Pressley
Democratic Representative
Massachusetts
Cosponsors (33)
Dwight Evans (Democratic)Barbara Lee (Democratic)Joyce Beatty (Democratic)Emanuel Cleaver (Democratic)Joe Courtney (Democratic)Ilhan Omar (Democratic)Troy A. Carter (Democratic)Madeleine Dean (Democratic)Rosa L. DeLauro (Democratic)Greg Casar (Democratic)Danny K. Davis (Democratic)Jake Auchincloss (Democratic)Jasmine Crockett (Democratic)André Carson (Democratic)John B. Larson (Democratic)Sara Jacobs (Democratic)Dean Phillips (Democratic)Pramila Jayapal (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Janice D. Schakowsky (Democratic)Alexandria Ocasio-Cortez (Democratic)Summer L. Lee (Democratic)Yvette D. Clarke (Democratic)Bennie G. Thompson (Democratic)Earl Blumenauer (Democratic)Seth Moulton (Democratic)Elissa Slotkin (Democratic)Nanette Diaz Barragán (Democratic)Grace Meng (Democratic)Rashida Tlaib (Democratic)Jamaal Bowman (Democratic)Cori Bush (Democratic)
Ways and Means Committee
Taxation
Related Bills
- 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