USAccounts: Investing in America's Future Act of 2015

H.R. 4045, the USAccounts: Investing in America's Future Act of 2015, proposes the creation of a government-managed savings program for every child born in the United States after 2017. Under this plan, the Treasury Department would establish a "USAccount" for each eligible child, providing an initial seed deposit and matching private contributions up to $500 annually until the child turns 18. These funds would grow tax-free and could eventually be used by the account holder to pay for higher education expenses or to fund a retirement account. To support family participation, the bill also includes provisions to increase the child tax credit and requires the IRS to notify eligible taxpayers about the Earned Income Tax Credit.