American Dream Accounts Act of 2026
The source supplies the latest action, but no lifecycle stage.
Latest action (23 Jul 2026): Referred to the House Committee on Ways and Means.
What this bill does
This bill, the American Dream Accounts Act of 2026, proposes to establish a new type of tax-advantaged savings account. These accounts, called "American dream accounts," would be created and managed for the benefit of U.S. citizens. Contributions to these accounts would be tax-exempt, although earnings used for purposes other than qualified distributions could be subject to taxes.
The accounts would have annual contribution limits, with a higher limit for individuals aged 35 and older. Funds could be withdrawn tax-free for qualified first-time home purchases, up to certain limits. If the home is sold within three years of purchase, the tax-free status of the distribution might be revoked, unless specific exceptions like death or job loss apply. The bill also includes provisions for rollovers to other American dream accounts or Roth IRAs, as well as penalties for excess contributions or prohibited transactions.
As this bill has just been introduced in the House of Representatives, it has been referred to the Committee on Ways and Means. For the bill to become law, it would need to be approved by the committee, then passed by the full House, and subsequently passed by the Senate, before being signed by the President. The proposed changes would take effect for taxable years beginning after December 31, 2026, if enacted.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
23 Jul 2026
Referred to the House Committee on Ways and Means.
Common questions
- What does H.R. 9895 do?
- This bill, the American Dream Accounts Act of 2026, proposes to establish a new type of tax-advantaged savings account. These accounts, called "American dream accounts," would be created and managed for the benefit of U.S. citizens. Contributions to these accounts would be tax-exempt, although earnings used for purposes other than qualified distributions could be subject to taxes. The accounts would have annual contribution limits, with a higher limit for individuals aged 35 and older. Funds could be withdrawn tax-free for qualified first-time home purchases, up to certain limits. If the home is sold within three years of purchase, the tax-free status of the distribution might be revoked, unless specific exceptions like death or job loss apply. The bill also includes provisions for rollovers to other American dream accounts or Roth IRAs, as well as penalties for excess contributions or prohibited transactions. As this bill has just been introduced in the House of Representatives, it has been referred to the Committee on Ways and Means. For the bill to become law, it would need to be approved by the committee, then passed by the full House, and subsequently passed by the Senate, before being signed by the President. The proposed changes would take effect for taxable years beginning after December 31, 2026, if enacted.
- Has H.R. 9895 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 9895. Check the latest action and official source below.
- Who sponsored H.R. 9895?
- H.R. 9895 was sponsored by Rep. Bean, Aaron [R-FL-4] (R-FL), with 1 cosponsor.
- What's the latest action on H.R. 9895?
- Referred to the House Committee on Ways and Means. (23 Jul 2026).
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