legislation: 116-hr-8657

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
116-hr-8657 116 hr 8657 Emergency Savings Accounts Act of 2020 Taxation 2020-10-23 2020-10-23 Referred to the House Committee on Ways and Means. House Rep. Cloud, Michael [R-TX-27] TX R C001115 3 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. 2023-01-11T13:44:29Z https://www.congress.gov/bill/116th-congress/house-bill/8657

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