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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Title(s) as Introduced

Emergency Savings Accounts Act of 2020

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to provide emergency savings accounts for individuals.

Actions Overview (1)

Date Actions Overview
10/23/2020Introduced in House

All Actions (2)

Date All Actions
10/23/2020Referred to the House Committee on Ways and Means.
Action By: House of Representatives
10/23/2020Introduced in House
Action By: House of Representatives

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Weber, Randy K., Sr. [R-TX-14]* 10/23/2020
Rep. Gohmert, Louie [R-TX-1]* 10/23/2020
Rep. King, Steve [R-IA-4]* 10/23/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Ways and Means10/23/2020 Referred to

No related bill information was received for H.R.8657.

Latest Summary (1)

There is one summary for H.R.8657. View summaries

Shown Here:
Introduced in House (10/23/2020)

Emergency Savings Accounts Act of 2020

This bill allows an individual taxpayer occupying a residence a deduction from gross income for up to $5,000 of amounts paid into such taxpayer's emergency savings account. The bill defines emergency savings account as an account established exclusively to pay the qualified disaster and public health emergency expenses of the account beneficiary.

The bill defines qualified disaster and public health emergency expenses as disaster mitigation expenses, disaster recovery expenses, public health emergency expenses, and unemployment-related expenses.