New Universal Savings Account Bill from Rep. Harshbarger

Adam N. Michel

Representative Diana Harshbarger (R‑TN-01) recently introduced an updated and expanded bill to create universal savings accounts (USAs) with an annual contribution limit of $10,000. These new savings accounts would allow more Americans to build independent financial security through a flexible investment account without complicated rules for when or on what the funds can be spent.

The Universal Savings Account Act (HR 9010) adds a new tool for savers that, due to its simplicity...