Sen. Bernie Moreno says he will introduce bill to broaden “Trump Accounts” access to Americans under 40

Sen. Bernie Moreno of Ohio said Tuesday that he will introduce legislation to expand access to the Trump administration’s “Trump Accounts,” investment accounts associated with children, to Americans younger than 40. Moreno, a Republican, made the announcement in a post on X, saying he would lead the bill in the Senate.

Moreno’s proposal would adjust the program’s eligibility rules by lowering or extending the age-based cutoff, according to his statement. He said the accounts are “already transforming” for families, and he described the planned expansion as a “game-changer.” The Hill reported the plan as Moreno’s intention to file a bill in the Senate rather than as an enacted change.

The announcement comes as lawmakers weigh how existing savings and investment mechanisms can be structured, including who qualifies to open or receive funds and at what ages withdrawals or use may be allowed. Any expansion of eligibility would require legislative text and would be subject to the Senate process, including committee consideration, possible amendments, and a floor vote before any measure could reach the President for signature.

For the Trump administration, “Trump Accounts” are part of a broader set of policy efforts tied to children and family-oriented financial tools. The practical impact of Moreno’s bill would depend on the exact eligibility language, including whether it changes only access for new participants, modifies timelines for existing beneficiaries, or alters how and when younger adults may use account proceeds.

If Moreno’s bill advances, it would be referred to a Senate committee once formally introduced and would likely be paired with negotiations over related provisions, such as administrative implementation and any required coordination with agencies responsible for program operations. The bill’s scope also would determine how quickly changes could take effect after passage.

Moreno’s statement did not provide additional statutory details in the report, including the current age threshold being changed, the definition of eligibility for dependents or account holders, or whether the bill would affect any existing accounts already opened under the current rules. Those elements would be expected to come when the legislation is filed.

As of Tuesday, Moreno had not described a timeline for introduction beyond his statement that he would introduce the bill, and no committee or bill number was included in the report. The next step would be the formal filing of the measure, followed by the standard Senate legislative process.