Reps. Steube and Boyle Introduce HUSTLE Act to Create Tax-Free Savings Accounts for College Athletes
The HUSTLE Act was recently introduced in the House and is currently being reviewed by the Committee on Ways and Means. No further actions are scheduled at this time. The bill is in the early stages of the legislative process.
It has support from both parties and addresses a popular issue, but tax bills often take a long time to move through the House.
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Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
U.S. Representatives Greg Steube and Brendan Boyle introduced the HUSTLE Act to create tax-advantaged investment accounts for college athletes. The bill allows students to contribute NIL earnings into dedicated accounts, excluding those amounts from taxable income up to the annual gift-tax limit, and provides for penalty-free withdrawals for education and career transitions.
The HUSTLE Act (S. 3378/H.R. 9568) creates a first-of-its-kind tax-favored savings vehicle for collegiate athletes. Under the program, athletes can exclude qualified NIL income from their gross income up to the annual gift-tax exclusion amount ($19,000 in 2026). The bill also mandates that trustees provide financial education to help young athletes manage their new wealth.
Lawmakers have filed the HUSTLE Act to address the growing need for financial literacy and long-term savings among college athletes. The bill establishes tax-advantaged accounts overseen by the Treasury Department and requires banks to provide investment lessons. It also allows for a $35,000 rollover into an IRA after an athlete's college career ends.
No votes recorded for this bill yet.
Document Type
Congressional Bill
Official Title
HUSTLE Act
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