22. Department of the Treasury · Notable · Needs Congress
Create Universal Savings Accounts with $15,000 annual contributions
Printed page 696 22. Department of the Treasury
“All taxpayers should be allowed to contribute up to $15,000 (adjusted for inflation) of post-tax earnings into Universal Savings Accounts (USAs). The tax treatment of these accounts would be comparable to Roth IRAs.”
What has happened
- Not started
Public Law 119-21 created a new savings vehicle, but not this one. Section 70204 adds section 530A "Trump accounts": contributions are capped at $5,000 a calendar year (indexed after 2027), the beneficiary must not have attained age 18 when the account is established, and the tax treatment is deferral on the traditional-IRA model rather than the Roth model the Quote asks for. Universal Savings Accounts open to all taxpayers at $15,000 of post-tax earnings were not enacted; the bills that would create them, S. 1581 and H.R. 3186 (Universal Savings Account Act of 2025), are in committee.
Research log
What was searched, and what didn’t count as evidence
Research notes
Trump accounts are adjacent, not this ask: different eligible population (children under 18, not all taxpayers), different limit ($5,000, not $15,000), different tax treatment (deferred, not Roth-comparable). Recorded here so a later pass does not mistake one for the other.
Leads: S. 1581 (referred to Finance 2025-05-01) and H.R. 3186 (referred to Ways and Means 2025-05-05), Universal Savings Account Act of 2025.
- Action
- create
- Object
- Universal Savings Accounts
- ID
- 1927