With the importance of savings magnified by the COVID-19 pandemic, a new idea is gaining popularity: Universal Savings Accounts (USAs).

These all-purpose savings accounts would allow every American to save for things other than just retirement, education, and health care. USAs could enable citizens to save for a rainy day, start a business, or grow their family. The National Coronavirus Recovery Commission also recently recommended USAs as a critical policy for reducing the financial risks of future pandemics by allowing more Americans to save for future unknowns. Hear from experts about how USAs not only protect savers from complicated and costly taxes but can help build local communities, support families, and shore up civil society.

Heritage convened the National Coronavirus Recovery Commission to make recommendations for state and local governments, the Trump administration, Congress, and the private sector. Learn more at CoronavirusCommission.com.

Find additional public policy solutions here.

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