Young American Savers Act of 2021

Summary

Young American Savers Act of 2021 This bill directs the Department of the Treasury to establish as a permanent program the Federal Child Savings Account Program not later than December 31, 2022. A program account shall be tax-exempt and distributions from an account shall be excludible from a child's gross income. The program allows the parent or guardian of a child under the age of 18 and a U.S. resident to make contributions to an account for the child's educational expenses. An account may also fund a Roth Individual Retirement account and an ABLE (i.e., Achieving a Better Life Experience) account for disabled individuals. Distributions from such accounts may begin on the earlier of the date such child attains the age of 26, receives an associate's or bachelor's degree, or enlists in active duty miliary service.

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Timeline

1. 24 June 2021

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 24 June 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 24 June 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 24 June 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 24 June 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 24 June 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Casey, Robert P., Jr. [D-PA] · D · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to ← Five Freedoms for America’s Children Act
• related to ← Young American Savers Act of 2020