Representatives Blake Moore, Adrian Smith, and Brian Jack introduced the Trump Accounts for All Generations Act on Apr. 17 to permanently extend the Trump Accounts contribution pilot program, which is set to expire at the end of 2028. The proposed legislation would ensure that every American newborn can receive a $1,000 investment when opening a Trump Account and would index this amount to inflation beginning in 2029.
The bill aims to provide future generations with financial stability from birth by making federal contributions to these accounts permanent. Supporters say this measure could help families start saving early and give children better financial opportunities as they grow.
“One of the most significant policies we enacted in the Working Families Tax Cuts was the creation of investment accounts for every American child. Trump Accounts will set our children up for financial stability and the $1,000 federal contribution for newborns will jumpstart their savings. I was proud to lead the original legislation that launched the program and I’m excited to introduce the Trump Accounts for All Generations Act to make this federal investment permanent for generations to come,” Rep. Moore said.
“The Trump Account contribution pilot program opened the door for parents to provide their children with a strong financial foundation from day one. But this historic investment is at risk of disappearing after President Trump leaves office. I introduced the Trump Accounts for All Generations Act to ensure that every future generation of Americans can have a strong financial start in life,” Rep. Smith said.
“On Independence Day 2025, President Trump enacted one of the most significant laws in American history: the Working Families Tax Cuts, delivering the largest tax cut in American history and establishing the foundation for Trump Accounts. I am proud to support the Trump Accounts for All Generations Act, which would make these tax-advantaged savings accounts permanent and ensure the next generation of Americans has the tools to build wealth, pursue opportunity, and create a better future for themselves and their families. I commend President Trump for his leadership, and I look forward to advocating for this legislation throughout the Congressional process,” Rep. Jack said.
Under current law created by Republicans through Working Families Tax Cuts, parents or guardians can establish tax-advantaged savings accounts called “Trump Accounts” with annual contributions up to $5,000 per child who is a U.S citizen born between January 1, 2025 and December 31, 2028; these accounts also received an initial $1,000 federal contribution during that period.
Blake Moore is currently serving in Congress representing Utah’s 1st district after replacing Rob Bishop in 2021 according to congressional records. He has held his seat since then according to official House information. Moore was born in Ogden in 1980 and now lives in Salt Lake City as reported by Deseret News. He graduated from University of Utah with a BA degree in 2005 according University alumni records.
