American Dream Accounts Act of 2026

This bill would create a new type of tax-exempt savings account, called an American dream account, for U.S. citizens. People could put in up to $7,500 a year in cash ($10,000 a year once the account holder reaches age 35), with a lifetime limit of $250,000. Money taken out to buy a first home would not be taxed, up to $500,000 one time per person, but other withdrawals would be taxed and generally face an extra 10 percent tax. Account funds could also be rolled over to a family member's account or to the holder's Roth IRA, within set limits. The rules would apply to tax years beginning after December 31, 2026.

Full text and official record on Congress.gov

Sponsors

• Aaron Bean Republican sponsor
• 1 cosponsors