Senate Bill 441 - American Opportunity Accounts Act

Purpose and Summary

Chamber: Senate

Introduced date: 2023-02-15

Recent Activity

Read twice and referred to the Committee on Finance.

Alternative Names

American Opportunity Accounts Act

American Opportunity Accounts Act

A bill to establish American opportunity accounts, and for other purposes.

Associated Legislation

American Opportunity Accounts Act

Policy Areas

Taxation

Potential Impact

Advisory bodies

Congressional oversight

Employee benefits and pensions

Executive agency funding and structure

Financial services and investments

Government studies and investigations

Government trust funds

Higher education

Housing finance and home ownership

Income tax exclusion

Inflation and prices

Securities

Student aid and college costs

Tax administration and collection, taxpayers

Vocational and technical education

Wages and earnings

Sponsors and Supporters

Sen. Booker, Cory A. [D-NJ]

Cosponsors and Supporters

Sen. Durbin, Richard J. [D-IL]

Sen. Markey, Edward J. [D-MA]

Sen. Merkley, Jeff [D-OR]

Sen. Warren, Elizabeth [D-MA]

Sen. Sanders, Bernard [I-VT]

Sen. Brown, Sherrod [D-OH]

Sen. Blumenthal, Richard [D-CT]

Sen. Van Hollen, Chris [D-MD]

Sen. Schatz, Brian [D-HI]

Sen. Whitehouse, Sheldon [D-RI]

Sen. Schumer, Charles E. [D-NY]

Sen. Baldwin, Tammy [D-WI]

Sen. Klobuchar, Amy [D-MN]

Sen. Gillibrand, Kirsten E. [D-NY]

Sen. Heinrich, Martin [D-NM]

Sen. Welch, Peter [D-VT]

Committees and Subcommittees

Finance Committee

Variations and Revisions

Kirsten E. GillibrandAmerican Opportunity Accounts Act

American Opportunity Accounts Act

12/20/2023, 5:15 AM

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 accou...

Congress
118

Number
S - 441

Introduced on
2023-02-15

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/15/2023

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

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 accou...

Alternative Names
Official Title as IntroducedA bill to establish American opportunity accounts, and for other purposes.

Policy Areas
Taxation

Potential Impact
Advisory bodies•
Congressional oversight•
Employee benefits and pensions•
Executive agency funding and structure•
Financial services and investments•
Government studies and investigations•
Government trust funds•
Higher education•
Housing finance and home ownership•
Income tax exclusion•
Inflation and prices•
Securities•
Student aid and college costs•
Tax administration and collection, taxpayers•
Vocational and technical education•
Wages and earnings

Comments

Recent Activity

Latest Summary3/9/2023

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 accou...


Latest Action2/15/2023
Read twice and referred to the Committee on Finance.