Military Savings Act of 2012

Referred to the Subcommittee on Military Personnel.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Jun 12, 2012

Military Savings Act of 2012 - Directs the Undersecretary of Defense (Comptroller) to carry out a five-year pilot program to develop innovative consumer financial products that encourage savings and wealth-creation among active-duty servicemembers. Requires the program to be carried out in such a way that it does not exacerbate the incidence of servicemember credit overextension. Directs the Undersecretary to choose at least 10 military installations at which to implement the program.

Directs the Undersecretary to contract for an annual independent program evaluation until its termination.

Allows the Undersecretary, under certain conditions, to expand the program to a nationwide program and to extend its duration.

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People & committees

Who introduced it

Rep. Markey, Edward J. [D-MA-7] · D–MA

Committees

Armed Services Committee

2 cosponsorship records, including any withdrawals

Legislative record

Actions

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Jul 10, 2012
Referred to the Subcommittee on Military Personnel.
Jun 12, 2012
Referred to the House Committee on Armed Services.
Jun 12, 2012
Introduced in House
Jun 12, 2012
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Jun 12, 2012 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.

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Objective

Analyze H.R.5946 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.5946, 112th Congress: Military Savings Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/5946

Text version to examine: Introduced in House · 2012-06-12.

Official full text: https://www.congress.gov/112/bills/hr5946/BILLS-112hr5946ih.htm

Imported record last updated by the source: 2025-08-14T14:17:21Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.5946 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.5946 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.5946, 112th Congress: Military Savings Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/5946

Text version to examine: Introduced in House · 2012-06-12.

Official full text: https://www.congress.gov/112/bills/hr5946/BILLS-112hr5946ih.htm

Imported record last updated by the source: 2025-08-14T14:17:21Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5946 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.5946 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss H.R.5946, 112th Congress: Military Savings Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/5946

Text version to examine: Introduced in House · 2012-06-12.

Official full text: https://www.congress.gov/112/bills/hr5946/BILLS-112hr5946ih.htm

Imported record last updated by the source: 2025-08-14T14:17:21Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5946 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.5946 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.5946, 112th Congress: Military Savings Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/5946

Text version to examine: Introduced in House · 2012-06-12.

Official full text: https://www.congress.gov/112/bills/hr5946/BILLS-112hr5946ih.htm

Imported record last updated by the source: 2025-08-14T14:17:21Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5946 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.