2320 -- Universal Savings Account Act | Poliscope

Universal Savings Account Act

2320

114th Congress

Taxation

In Committee

Legislative Progress

✓

Introduced

Committee

Floor Vote

Other Chamber

Enacted

Introduced

November 19, 2015

Latest Action

November 19, 2015

Primary Sponsor

Jeff FlakeRepublican(AZ)

Momentum (last 30 days)

score

0 actions · 0 new cosponsors · 0 votes

Speed vs cohort

0pct

0d open

vs 3,548 other S bills in the 114th — cohort avg 43d

Summary

Universal Savings Account Act This bill amends the Internal Revenue Code to allow for the establishment of Universal Savings Accounts. These Accounts shall be tax-exempt and may be opened by any individual who is at least 18 years of age and a U.S. citizen or legal permanent resident. Contributions to these Accounts must be in cash and may not exceed $5,500 (adjusted annually for inflation) in any calendar year. Distributions from a Universal Savings Account are excluded from the gross income of the account holder for income tax purposes.

Lobbying filings that explicitly cite this bill (1)

These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.

Filing registrants (1)

AMERICANS FOR TAX REFORM (1)

AMERICANS FOR TAX REFORMclient→AMERICANS FOR TAX REFORM

2015 · fourth_quarter · Taxation/Internal Revenue Code

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Cited source text, amounts, lobbyists, and targets

H.R. 3167 Tax Administration Integrity Act; S. 1728 Access to Court Challenges for Exempt Status Seekers (ACCESS) Act; H.R. 1270 Restoring Access to Medication Act; S. 698 Marketplace Fairness Act; S. 1431 Internet Tax Freedom Forever Act ; H.R. 3086 Permanent Internet Tax Freedom Ac; H.R.2584 Buisness Activity Tax Simplification Act; H.R. 1528 End Discriminatory State Taxes for Automobile Rentals; S. 1261 Wireless Telecommunications Tax and Fee Collection Fairness Act; H.R. 1087 Wireless Telecommunications Tax and Fee Collection Fairness Act; Hybrid Origin Discussion Draft; H.R. 2315 Mobile Workforce State Income Tax Simplification Act; H.R. 2775 Remote Transactions parity Act ; H.R. 1643 Digital Goods and Services Tax Fairness Act; H.R. 2775 Remote Transactions Parity Act; H.R. 3762 Restoring Americans Healthcare Freedom Reconciliation Act; S. 2350 Full Expensing Act; S. 2320 Universal Savings Account Act; American Business Competitiveness Act; H.R. 2029 Consolidated Appropriations Act; H.R. 644 The Trade Facilitation and Trade Enforcement Act. ; S. 987 Small Business Tax Equity Act; H.R. 1855 Small Business Tax Equity Act; H.R. 3508 American Solution for Simplifying the Estate Tax Act ; H.R. 1104 Fair Treatment for All Gifts Act