Proposal Would Make Trump Account Pilot Contributions Permanent

Representatives Adrian Smith (R-NE), along with cosponsors Blake Moore (R-UT) and Brian Jack (R-GA), have introduced H.R. 8313, the Trump Accounts for All Generations Act. Currently under the Trump accounts contribution pilot program, Trump accounts of eligible children can receive a $1,000 pilot program contribution. Eligible children must be U.S. citizens with valid Social Security numbers born in 2025 through 2028. The bill would remove the end date for eligibility of the pilot program contribution as well as remove reference to the term “pilot”. Additionally, the proposal would provide for an inflation adjustment to the $1,000 contribution starting in 2029. The legislation has been referred to the House Ways and Means Committee for further consideration.