John Reed (D-RI)
Helping More Families Save Act
A Democratic bill with 3 Republican cosponsors · See all 6 cosponsors
Last activity — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1666-1667)
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The "Helping More Families Save Act" establishes a pilot program to improve the family self-sufficiency program. The Secretary will select up to 25 eligible entities to manage interest-bearing escrow accounts for up to 5,000 covered families. These accounts are funded by increases in rent resulting from a family's increased earned income. Families can withdraw these funds under specific conditions, such as after they cease receiving welfare assistance. The program includes specific rules regarding income limitations and recertification processes. This pilot program is intended to assist families in achieving economic independence.
Yes
- Scored +6
Would households on low incomes be better off under this?
The program creates interest-bearing savings accounts for eligible families receiving assistance.
- Scored +5
Is this likely to lift people out of poverty?
The program provides a mechanism for families to accumulate interest-bearing savings to achieve economic independence.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Creation of Savings: Eligible entities will establish interest-bearing escrow accounts for covered families, placing in them amounts equal to rent increases caused by higher earned income (Section 2, paragraph 3,A,i).
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Access to Funds for Self-Sufficiency: Families may be able to withdraw funds earlier than the standard five-year period if they are using the money to advance a self-sufficiency goal approved by the eligible entity (Section 2, paragraph 3,C,iv).
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Protection of Other Benefits: Increases in earned income during participation in the pilot program cannot be counted as income or resources when determining eligibility for other benefits administered by the Secretary (Section 2, paragraph 4).
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Flexible Recertification: To support the program, covered families are permitted to recertify their income multiple times per year, with at least one recertification required annually (Section 2, paragraph 3,D).
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Low Barrier to Entry: Families participating in the pilot program are not required to complete a standard contract of participation or an individual training and services plan (Section 2, paragraph 3,E).
Potential Negative Impacts for People
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Income Restrictions: An eligible entity is prohibited from putting money into an escrow account for any covered family whose adjusted income exceeds 80 percent of the area median income (Section 2, paragraph 3,B).
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Withdrawal Limitations: There are strict time constraints on when a family can access their money, generally requiring a wait of at least 5 years, unless specific exceptions apply (Section 2, paragraph 3,C,i-ii).
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Program Exclusivity: Families are informed that they cannot participate in both this pilot program and the standard Family Self-Sufficiency program at the same time (Section 2, paragraph 6,C).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — The program creates interest-bearing savings accounts for eligible families receiving assistance.
- Social Issues And Justice
- Is this likely to lift people out of poverty? — The program provides a mechanism for families to accumulate interest-bearing savings to achieve economic independence.
- 12/17/2025
- 1 Cosponsor added.
- 10/8/2025
- 1 Cosponsor added.
- 4/28/2025
- 1 Cosponsor added.
- 3/12/2025
- 2 Cosponsors added.
- 3/11/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1666-1667)
- 1 Cosponsor added.
- Introduced in Senate
2 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Lisa Blunt RochesterDemocrat · Delaware
Katie BrittRepublican · Alabama
Mike CrapoRepublican · Idaho
James RischRepublican · Idaho
Tina SmithDemocrat · Minnesota
Mark WarnerDemocrat · Virginia