US SB2231 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on July 23 2019 - 25% progression, died in committee
Action: 2019-07-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 23 2019 - 25% progression, died in committee
Action: 2019-07-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Requires federally funded and managed savings accounts (American Opportunity Accounts) to be established for American children who are under the age of 18. The bill also increases and modifies (1) estate and gift taxes, and (2) capital gains taxes.
Title
American Opportunity Accounts Act
Sponsors
Sen. Cory Booker [D-NJ] | Sen. Tammy Baldwin [D-WI] |
History
Date | Chamber | Action |
---|---|---|
2019-07-23 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB3922 (Same As) 2019-07-23 - Referred to the House Committee on Ways and Means.
Subjects
Accounting and auditing
Administrative law and regulatory procedures
Advisory bodies
Bank accounts, deposits, capital
Capital gains tax
Congressional oversight
Department of the Treasury
Executive agency funding and structure
Financial literacy
Financial services and investments
Government trust funds
Health care costs and insurance
Higher education
Housing finance and home ownership
Income tax exclusion
Income tax rates
Inflation and prices
Student aid and college costs
Tax administration and collection, taxpayers
Tax treatment of families
Taxation
Transfer and inheritance taxes
Wages and earnings
Administrative law and regulatory procedures
Advisory bodies
Bank accounts, deposits, capital
Capital gains tax
Congressional oversight
Department of the Treasury
Executive agency funding and structure
Financial literacy
Financial services and investments
Government trust funds
Health care costs and insurance
Higher education
Housing finance and home ownership
Income tax exclusion
Income tax rates
Inflation and prices
Student aid and college costs
Tax administration and collection, taxpayers
Tax treatment of families
Taxation
Transfer and inheritance taxes
Wages and earnings
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/2231/all-info |
Text | https://www.congress.gov/116/bills/s2231/BILLS-116s2231is.pdf |