H.R. 5576: USAccounts: Investing in America's Future Act of 2014
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H.R. 5576: USAccounts: Investing in America's Future Act of 2014
113th Congress · introduced 2014-09-18 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2014-09-18 · official record
- Who proposed it: Rep. Crowley, Joseph [D-NY-14] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
USAccounts: Investing in America's Future Act of 2014
Plain summary
USAccounts: Investing in America's Future Act of 2014 - Establishes in the Treasury the USAccount Fund to make contributions to accounts known as USAccounts, which are established under this Act for each child of a taxpayer qualifying for the child tax credit who has not attained age 17. Provides for an initial government contribution of $500 to a USAccount, private contributions up to $2,000, and government matching contributions up to $500 in a calendar year. Allows tax-exempt distributions from USAccounts for higher education expenses and for funding individual retirement plans of a qualifying child. Establishes in the executive branch a USAccount Fund Board to manage investments in the USAccount Fund. Amends the Internal Revenue Code to: (1) exempt the USAccount Fund and USAccounts from income taxation, and (2) increase the amount of the child tax credit by the applicable USAccount contribution amount.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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If it passes both chambers and is signed, it becomes law.
A “Nay” vote
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What does this mean? (plain words)
Official text
USAccounts: Investing in America's Future Act of 2014
Source: Congressional Research Service summary (Introduced in House)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Crowley, Joseph [D-NY-14] · 1 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr5576.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>
Record fed-us-cong113-hr5576 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113