10/23/2026
Homeownership is the cornerstone of the American Dream. 🇺🇸🏡
Too many young families and hardworking Americans are doing everything right and still can’t save enough for a down payment. That’s why I introduced the NEST Act, to help a new generation of homebuyers save responsibly, keep more of what they EARN, and build wealth they can pass down.
Here’s what the NEST Act does:
âś… Establishes tax-advantaged First-Time Homebuyer Savings Accounts under the Internal Revenue Code.
âś… Allows above-the-line tax-deductible contributions to help families save faster.
âś… Provides tax-free growth and tax-free withdrawals when used for qualified home purchase expenses.
âś… Permits funds to be used for down payments, closing costs, and related financing expenses for a primary residence.
âś… Limits eligibility to individuals who have not owned a principal residence within the prior three years.
âś… Caps lifetime contributions at 20 percent of the state median home price to reflect local housing markets.
✅ Allows employers to contribute to an employee’s account on a tax-free basis.
âś… Imposes taxes and penalties on non-qualified withdrawals to protect program integrity.
Your paycheck. Your future. Your first home.
Let’s get this bill passed and make the American Dream a reality. 🇺🇲💪