Rep. Renacci Introduces House Savings Account Bill
November 4, 2011
Today, U.S. Representative Jim Renacci (OH-16) released the following video to introduce the "Creating Housing Opportunities Act of 2011. The legislation would create a pre-tax savings program -- similar to an HSA -- for the purpose of building a down payment on a first home. The account could only be used on a down payment on a primary residence or the closing costs and fees associated with the purchase of a home. It encourages buying with more equity.