Republican Senator Bernie Moreno of Ohio said Tuesday that Moreno will introduce legislation extending Trump Accounts eligibility to Americans younger than 40. The Trump administration's investment accounts currently serve children. Moreno said the accounts are already changing families' lives across the country. Moreno argued that broader eligibility would help Americans purchase homes, eliminate student debt and invest for the future.
Altimeter CEO Brad Gerstner, who supports the accounts, recently told the New York Post that Gerstner is working to extend eligibility to anyone younger than 40. Gerstner said the legislation would propose permanent funding for the accounts. The Treasury Department is depositing $1,000 into accounts for American children born from the beginning of 2025 through 2028.
President Trump said Tuesday that the administration is examining an alternative version of Trump Accounts for adults. Trump told reporters that accounts for adults would require a different approach. The White House and Treasury Department were asked for comment. The administration established Trump Accounts through the One Big Beautiful Bill Act, which Trump signed in July 2025.
Invest America says more than 70 million children have accounts following Treasury's automatic enrollment of more than 60 million children. The federal government will place account investments in the State Street SPDR Portfolio exchange-traded fund, which follows the S&P 500. Parents will also have four alternative exchange-traded funds available for investing a child's account.
Dozens of companies are matching Treasury's $1,000 payment for babies born between 2025 and 2028. Dell CEO Michael Dell and Susan Dell, Michael Dell's wife, have contributed $250 each to accounts belonging to 25 million children. The recipients live in ZIP codes where median family income does not exceed $117,300. The Dells' donation totals $6.25 billion.
Elon Musk said Monday that Musk will give every child in the United States one SpaceX share next year. Trump subsequently confirmed that Musk's contribution will go into children's Trump Accounts.
Senators are in recess and are due back on November 9. Republicans have a 53-47 Senate majority and are seeking to retain control in the November midterm elections.
Senator Moreno Proposes Expanding Trump Accounts to Americans Under 40
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Summary
Senator Bernie Moreno of Ohio announced plans to expand Trump Accounts to Americans under 40, according to AI + crypto news. The current program, under the One Big Beautiful Bill Act, offers $1,000 to children born from 2025 to 2028. Moreno says broader access would help with home buying, student debt, and investing. Altimeter CEO Brad Gerstner backs the idea and is pushing for permanent funding. The Treasury is enrolling 60 million children, with funds in the State Street SPDR Portfolio ETF. Elon Musk has pledged a SpaceX share for each U.S. child, which Trump confirmed would go into the accounts.
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