S. 5243Senate119th Congress (2025-2027)In Committee

A bill to provide for the automatic establishment of Trump accounts using information collected under the Enumeration at Birth Program of the Social Security Administration.

AI-Generated Summary

Updated August 11, 2026 at 5:52 AM UTC

The bill requires the Social Security Administration to use the data it already collects at birth to automatically open a "Trump account" for every newborn child. The Treasury Secretary (or a delegate) would receive this information and create the accounts. The change would affect all newborns in the United States and the federal agencies that handle birth data and tax accounts.

Key Provisions

The Treasury Secretary (or a delegate) is tasked with establishing a Trump account for each newborn child.
The Social Security Administration must modify its Enumeration at Birth program to collect and send the necessary birth information to the Treasury.
An account is to be opened for each child for whom the information is provided, using the definition of a Trump account in the tax code.

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

Finance Committee

August 5, 2026

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SenateIntro Referral

Introduced in Senate

August 5, 2026

SenateIntro Referral

Read twice and referred to the Committee on Finance.

Finance Committee

August 5, 2026

Bill Text

Latest available legislative text

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Introduced in SenateIssued August 5, 2026

119th CONGRESS

2d Session

S. 5243

IN THE SENATE OF THE UNITED STATES

August 5, 2026

Mrs. Capito (for herself and Mr. Justice) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To provide for the automatic establishment of Trump accounts using information collected under the Enumeration at Birth Program of the Social Security Administration.

Use of Social Security data for Trump account enrollment

(a)

Definitions

In this section:

(1)

Secretary

The term Secretary means the Secretary of the Treasury or the Secretary's delegate.

(2)

Trump account

The term Trump account has the meaning given such term under section 530A of the Internal Revenue Code of 1986.

(b)

Collection of information

The Commissioner of Social Security, in consultation with the Secretary, shall modify the Enumeration at Birth Program of the Social Security Administration to collect and send to the Secretary such information as may be necessary to establish Trump accounts on behalf of newborn children.

(c)

Establishment of account

The Secretary shall establish a Trump account on behalf of each newborn child with respect to whom information is provided under subsection (b).