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Dossier Legislative introduced 25-jun-2026
Bill introduced in Congress — not yet passed by either chamber, and not law.

To amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to home savings accounts, and for other purposes.

Key claim: HR9480 proposes amending the Internal Revenue Code to allow taxpayers a tax deduction for contributions made to designated home savings accounts.

Abstract

(HR9480 · 119th Congress) Latest action (2026-06-25): Referred to the House Committee on Ways and Means.

Why this matters

A dedicated home savings account deduction would add a new category of tax-advantaged personal savings under the Internal Revenue Code, targeted at homeownership rather than retirement, health, or education. Taxpayers saving for a home would pay less federal income tax; the federal fisc would absorb the revenue loss. The proposal fits a broader pattern of using tax expenditures rather than direct spending to advance housing policy goals.

Source

Link

Briefing card

To amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to home savings accounts, and for other purposes.
Stage: introduced · congress · 25-jun-2026

HR9480 proposes amending the Internal Revenue Code to allow taxpayers a tax deduction for contributions made to designated home savings accounts.

Cross-references (0)

None recorded — doctrine links and citations appear here as scans and citation sweeps find them.

External: congress:119-hr-9480:introduced

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