The Helping More Families Save Act establishes a pilot program to improve how public housing agencies and rental assistance providers help low-income families build savings. Under the program, up to 25 housing agencies across the country will create interest-bearing escrow accounts for approximately 5,000 families receiving federal rental assistance, automatically depositing any rent increases that result from higher earned income into these accounts. Families earning up to 80 percent of their area's median income can participate and access their accumulated savings after five to seven years, or earlier if they use the funds for self-sufficiency goals like education or homeownership; importantly, increases in family income won't affect eligibility for other government benefits during participation. The program includes safeguards allowing families to opt out at any time without losing housing assistance, and requires the Housing and Urban Development Secretary to report results within eight years. The bill authorizes $5 million in funding for fiscal year 2026 to support implementation and evaluation of the pilot program, which is set to terminate ten years after enactment.
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