Foster Youth Investment Act

Summary#

This bill would change the Internal Revenue Code to allow general contributions to "Trump accounts" for certain foster children and for children under the custody, supervision, or guardianship of a State or an Indian tribal government. It adds a new clause to section 530A(f)(3)(A) to include account beneficiaries who are under age 18 in the calendar year of the contribution and who meet the bill's foster-child or state/tribal custody tests. The bill also allows groups of account beneficiaries to be defined using combinations of the listed criteria, so long as all beneficiaries are under age 18. The change would apply to contributions made after December 31, 2025. The bill was introduced in the House by Rep. Blake Moore and was referred to the Committee on Ways and Means on July 23, 2026.

What it means for you#

• If you or your family make general contributions to the types of accounts covered by section 530A and you care for a child who is an eligible foster child or is under state or tribal custody, this bill would permit those contributions to be made for that child, provided the child is under 18 that year.
• The rule also allows mixed groups of eligible children to receive contributions if they meet the bill's combined criteria and are all under 18.

Expenses#

No publicly available information on the bill's budgetary effects, costs, or revenue impact is included in the provided text.

Proponents' View#

No publicly available information in the provided text describing supporters' arguments or statements.

Opponents' View#

No publicly available information in the provided text describing opponents' arguments or statements.