Search Results: keywords:"hope accounts"

  • H. R. 9394 — To amend the Internal Revenue Code of 1986 to reform health provisions, and for other purposes.
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    Status:Introduced in House
    Words:4,280

    H.R. 9394, known as the "Health Out-of-Pocket Expense Act of 2024" or the "HOPE Act of 2024," proposes changes to the Internal Revenue Code of 1986. It introduces HOPE Accounts, which are tax-exempt trusts designed to pay for an individual's medical expenses. The bill sets rules for how these...

    Simple Explanation

    The "HOPE Act of 2024" lets people put money into special savings accounts called HOPE Accounts to pay for doctor's visits and medicine without paying extra taxes, but if they use the money for other things, they get charged a big penalty.

  • S. 5171 — To authorize competitive grants for the establishment of HOPE Accounts Pilot Projects and HOPE Action Plans Pilot Projects, and for other purposes.
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    Status:Introduced in Senate
    Words:5,444

    S. 5171, known as the "HOPE Act of 2024," aims to provide competitive grants for establishing pilot projects that assist low-income individuals in the U.S. through HOPE Accounts and HOPE Action Plans. These pilot projects focus on creating savings accounts with direct...

    Simple Explanation

    The HOPE Act of 2024 is a plan to help people with less money in the U.S. by giving them special savings accounts and making it easier for them to get help using technology, but there are some worries that the money might not be used the right way.

  • H. R. 9845 — To authorize competitive grants for the establishment of HOPE Accounts Pilot Projects and HOPE Action Plans Pilot Projects, and for other purposes.
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    Status:Introduced in House
    Words:5,489

    H.R. 9845, known as the "HOPE Act of 2024", aims to establish pilot projects to support low-income individuals and families in the United States. These projects will focus on creating HOPE Accounts that help people deposit paychecks, access benefits and savings, and use new...

    Simple Explanation

    H.R. 9845, called the "HOPE Act of 2024," is like a special plan to help people with less money. It wants to give them new ways to save money and make their lives better by teaming up with big groups that help others, but it needs to make sure it does this fairly and checks if the plan is working well.