HR 4385

The Helping More Families Save Act establishes a pilot program designed to improve family self-sufficiency. It aims to expand the Family Self-Sufficiency program by creating escrow accounts where increases in a covered family’s rent due to earned income are automatically deposited. This pilot will involve up to 25 eligible entities managing these accounts for a maximum of 5,000 families, with specific rules around income limits, withdrawals, and recertification. The program also includes provisions to ensure equitable selection of participating entities and to evaluate its effectiveness in promoting economic independence.