S 1581
Universal Savings Account Act of 2025
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 7:01 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Universal Savings Account Act of 2025 proposes to create a new type of savings account, called a ‘Universal Savings Account,’ which would be exempt from taxation. These accounts would have contribution limits that increase annually, adjusted for inflation, and are designed to encourage long-term savings. The bill also addresses how these accounts would be treated upon death and includes provisions regarding reporting requirements and existing tax rules related to excess contributions.
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