CONGRESS FOR VOTERS

Adrian Smith (R-NE)

Trump Accounts for All Generations Act

H.R. 8313 · House bill Taxation

A Republican bill with 1 Democratic cosponsor · See all 22 cosponsors

Last activity — Referred to the House Committee on Ways and Means.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, titled the "Trump Accounts for All Generations Act," seeks to amend the Internal Revenue Code of 1986. Its primary purpose is to make the Trump accounts contribution pilot program permanent. The legislation also introduces an inflation adjustment for the $1,000 amount mentioned in the code for taxable years beginning after 2028. Additionally, the bill makes several conforming amendments to remove the word "pilot" from various sections of the code. These changes are intended to apply to taxable years beginning after December 31, 2026.

Yes· 3 of 14

  • Scored +4

    Would middle-income households be better off under this?

    Directly benefits middle-class families by making the $1,000 contribution limit permanent and inflation-adjusted.

  • Scored +3

    Would children be better off under this?

    Makes savings accounts permanent, which can be used for generational wealth transfer for children.

  • Scored +3

    Would people in their twenties and thirties be better off under this?

    Allows young adults to utilize permanent tax-advantaged accounts for long-term savings.

The opposite

  • Scored -1

    Does this reduce what the federal government owes?

    Making a tax-advantaged contribution program permanent may slightly reduce federal tax revenue.