A bill to provide for the automatic establishment of Trump accounts using information collected under the Enumeration at Birth Program of the Social Security Administration.
The source supplies the latest action, but no lifecycle stage.
Latest action (5 Aug 2026): Read twice and referred to the Committee on Finance.
What this bill does
S. 5243 would direct the Social Security Administration to modify its Enumeration at Birth Program—the existing process that assigns Social Security numbers to newborns—so that it also collects and forwards to the Treasury Department the information needed to open a "Trump account," a type of account defined under Section 530A of the Internal Revenue Code. The Treasury Secretary would then be required to automatically establish such an account for each newborn whose information is provided this way.
The bill primarily affects newborn children and their families, since accounts would be created automatically at birth using data already gathered through routine Social Security enrollment, rather than requiring a separate application. It also assigns new administrative responsibilities to the Commissioner of Social Security, who must coordinate with the Treasury Secretary to adapt the existing data-collection system, and to the Treasury Department, which would be responsible for opening and maintaining the accounts.
The bill was introduced in the Senate on August 5, 2026, by Senator Shelley Moore Capito of West Virginia, with a cosponsor, and has been referred to the Senate Committee on Finance for consideration. As an introduced bill, it has not yet been voted on by the committee or the full Senate, and would need to pass both chambers of Congress and be signed by the President before becoming law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
5 Aug 2026
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 5243 do?
- S. 5243 would direct the Social Security Administration to modify its Enumeration at Birth Program—the existing process that assigns Social Security numbers to newborns—so that it also collects and forwards to the Treasury Department the information needed to open a "Trump account," a type of account defined under Section 530A of the Internal Revenue Code. The Treasury Secretary would then be required to automatically establish such an account for each newborn whose information is provided this way. The bill primarily affects newborn children and their families, since accounts would be created automatically at birth using data already gathered through routine Social Security enrollment, rather than requiring a separate application. It also assigns new administrative responsibilities to the Commissioner of Social Security, who must coordinate with the Treasury Secretary to adapt the existing data-collection system, and to the Treasury Department, which would be responsible for opening and maintaining the accounts. The bill was introduced in the Senate on August 5, 2026, by Senator Shelley Moore Capito of West Virginia, with a cosponsor, and has been referred to the Senate Committee on Finance for consideration. As an introduced bill, it has not yet been voted on by the committee or the full Senate, and would need to pass both chambers of Congress and be signed by the President before becoming law.
- Has S. 5243 become law?
- The source does not supply a confirmed lifecycle stage for S. 5243. Check the latest action and official source below.
- Who sponsored S. 5243?
- S. 5243 was sponsored by Sen. Capito, Shelley Moore [R-WV] (R-WV), with 1 cosponsor.
- What's the latest action on S. 5243?
- Read twice and referred to the Committee on Finance. (5 Aug 2026).
Related bills in Social Welfare
Improving Social Security’s Service to Victims of Identity Theft Act
Removing Access Barriers to Running for Elected Office for People with Disabilities Act
Revising SSDI Disability Classifications Act
AACCENT Act
More bills from Sen. Capito, Shelley Moore [R-WV]
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