Summary: H.R.7008 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.7008. Bill summaries are authored by CRS.

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Introduced in House (05/22/2020)

Family Savings Flexibility Act

This bill (1) increases to $2,750 the maximum amount of unused benefits or contributions remaining in a health flexible or dependent care spending arrangement that may be carried over from the 2020 to the 2021 plan year, (2) increases the maximum contribution amount for health savings accounts, and (3) increases for taxable years beginning in 2020, the exclusion from employee gross income of employer-paid dependent care assistance.