HR 9428 · 119th CongressIn Committeecongress.gov ↗
Road to The Floor
How it worksIntroduced
In Committee
On The Floor
Passed a Chamber
Passed Congress
To President
Became Law
What this bill does
AI plain-language summaryThis bill would let employees make a one-time withdrawal of unused money that was set aside from their paychecks for work-related transportation costs, like transit passes or parking. Normally, that money can only be used for transportation expenses, but this bill would allow people to take the money out and use it for anything. The withdrawal cannot be more than the highest amount that was in the account between March 13, 2020, and December 31, 2023, and the withdrawn money would be counted as taxable income.
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