After the end of the first quarter of 2023, we have a better picture about the legislative prospects for consumer-directed plans this year. Consumer-directed plans provide a tax-effective means of funding everyday expenses such as health care and childcare. In Congress, governing majorities have been set and committees have been established. In addition, the Biden/Harris Administration has released its budget that outlines its priorities for the year.

Congressional outlook

Republicans are in the majority in the House of Representative; but it is a slim and fractious majority as witnessed by the 15 votes that were needed to install Rep. Kevin McCarthy (R-Calf) as Speaker of the House. Rep. Hakeem Jefferies became House Minority Leader, with the former Democratic House leadership of Reps. Nancy Pelosi (D-Calf) and Steny Hoyer (D-MD) stepping down from the leadership posts they held for years. Once the Speaker was elected, committee assignments were made. The committees that have jurisdiction over consumer-directed account plans are the Ways and Means Committee (Jason Smith (R-MI) is the new Chairman), the Education and the Workforce Committee (Virginia Foxx (R-NC) returning as Chairwomen of the Committee), and the Energy and Commerce Committee (Rep. Cathy McMorris Rodgers (WA-R) is the new Chair).

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