H.R. 3186 Congress 119 session
Universal Savings Account Act of 2025
Universal Savings Account Act of 2025 This bill establishes Universal Savings Accounts, which are tax-advantaged savings accounts that allow contributions up to a certain amount, exempt earnings and distributions from federal income taxes, and allow distributions to be used for any purpose. (Conditions and exceptions apply.) Specifically, the bill allows cash contributions to a Universal Savings Account of up to $10,000 in 2025 (maximum base contribution), excluding qualified amounts rolled over from another tax-advantaged account (e.g., individual retirement account). The maximum base contribution amount is increased by $500 each year beginning in 2026 and adjusted annually for inflation, up to a total maximum contribution of $25,000 (also adjusted annually for inflation beginning in 2026). Under the bill, earnings and distributions from a Universal Savings Account are excluded from gross income for federal tax purposes and, thus, are not subject to federal income taxes (similar to the federal tax treatment of distributions from a Roth individual retirement account). (Some exceptions apply.) Further, distributions from such accounts are not restricted and may be used for any purpose (unlike other types of tax-advantaged accounts currently available). The bill also imposes a federal excise tax on contributions to a Universal Savings Account in excess of the applicable contribution limit, a federal excise tax on certain transactions involving a Universal Savings Account and disqualified persons, certain reporting requirements on Universal Savings Account trustees, and a federal excise tax for failing to meet such reporting requirements.
Status
- Introduced
- Committee
- Floor vote
- Passed
- Enacted
In committee — last recorded action May 5, 2025
Referred to the House Committee on Ways and Means.
Passage likelihood
3% Much lower than most bills at this stage
This is an estimate, not a guarantee. It is computed from the signals listed below and nothing else. It does not account for leadership priorities, floor scheduling, or negotiations that are not in the public record.
What the estimate is based on
- Historical base rate About 4% of introduced federal bills are enacted.
- Current stage Referred to committee.
- Cosponsors 1 cosponsor.
- Days without action No recorded action in 484 days.
State-level impact
State-level impact data is not available for this bill. The source text does not contain a per-state funding formula or scored breakdown, so no figures are shown.
Official actions
- Referred to the House Committee on Ways and Means.
- Introduced in House
- Introduced in House