Moreno Proposes Expanding Trump Account Eligibility
Adults under 40 could gain access to federal investment accounts under a new legislative proposal.
Updated on Oct. 21, 2026 in Investing
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Senator Bernie Moreno has announced plans to introduce legislation that would expand eligibility for Trump Accounts to individuals under the age of 40. This proposed expansion follows the 2025 launch of the program, which currently serves more than 70 million American children.
Why it matters
The proposed expansion aims to broaden access to federal investment vehicles designed to help Americans fund future goals like homeownership and student debt repayment. These accounts represent a significant shift in federal policy by providing automated investment opportunities to millions of citizens.
More than 70 million children currently hold a Trump Account, with 60 million automatically enrolled by the Treasury Department. Eligible children born between 2025 and 2028 receive a $1,000 deposit, while 25 million children also received a $250 contribution from the Dell family.
The players
Bernie Moreno
The U.S. Senator representing Ohio who is leading the push to expand Trump Account eligibility.
Donald Trump
The President of the United States who signed the original legislation and is exploring account alternatives for adults.
Michael and Susan Dell
Philanthropists who contributed $6.25 billion to accounts for 25 million children in specific income areas.
Elon Musk
A business leader expected to contribute shares of SpaceX to children's accounts starting in 2027.
The details
The current Trump Account program invests federal funds into the State Street SPDR Portfolio ETF, though parents maintain the option to select from four alternative ETFs. The proposed expansion would bring similar investment structures to adults under 40, potentially allowing for broader participation in market-based savings. Participants in the existing child program utilize these funds to manage major expenses, and the legislative framework is expected to follow this precedent.
Timeline
July 2025: The One Big Beautiful Bill Act established the Trump Account program.
October 20, 2026: Senator Bernie Moreno announced plans to introduce the expansion legislation.
November 9, 2026: The Senate is scheduled to return from recess.
2027: Elon Musk is expected to contribute one share of SpaceX to each child's account.
Money Landscape
This move marks the first attempt to expand the reach of the One Big Beautiful Bill Act beyond its original cohort of children. It represents a potential shift in the scope of government-backed investment programs for working-age adults.
Adults under 40 should monitor potential eligibility requirements as the bill moves toward a Senate hearing. Those interested in the impact on their long-term savings should review their current retirement and investment contributions with a qualified financial professional.
The takeaway
The proposed legislation suggests a major potential change in how federal investment accounts are distributed across age groups. Readers should track the upcoming Senate session for further details on eligibility and how these accounts might integrate with personal savings goals.
What happens next
The Senate is scheduled to return from recess on November 9, 2026, which is expected to be the timeframe for further legislative activity on this bill.
Further reading
For more information on market-based savings programs, visit the United States Investing section.
Source note: This article includes information reported by The Hill.
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