United StatesHouse Bill 3407HR 3407

Money Accounts for Growth and Advancement Act

Taxation

22 pages

house
senate
president

Last progress May 14, 2025 (6 months ago)

Introduced on May 14, 2025 by Blake D. Moore

House Votes

Pending Committee

May 14, 2025 (6 months ago)

Referred to the House Committee on Ways and Means.

Senate Votes

Vote Data Not Available

Presidential Signature

Signature Data Not Available

AI Summary

Text Versions

Text as it was Introduced in House

May 14, 2025•22 pages

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Amendments

No Amendments

This bill would change the federal tax code to exempt “Money Accounts for Growth and Advancement” (MAGA accounts) from taxes. In plain terms, money kept in these accounts would not be taxed.

Who is affected: People who use MAGA accounts
What changes: Money in these accounts would be tax‑exempt under the federal tax code
Why it matters: Users could owe less tax and keep more of their savings