Senators Propose Combining Newborns’ Trump Account, Social Security Sign-Ups

Both West Virginia senators introduced legislation aimed at simplifying the setup of Trump Accounts for newborn children by tying enrollment to the process already used to obtain a Social Security number.

Senators Shelley Moore Capito and Jim Justice, R-West Virginia, introduced the measure on August 5, hoping to amend the Social Security Administration’s Enumeration at Birth program so information needed to establish a Trump Account could be collected as part of the birth registration process.

Under the proposal, the Social Security Administration would modify the EAB program to collect and transmit information needed by the Department of the Treasury to establish accounts for newborns. Treasury would then create a Trump Account for each newborn whose information is provided through the process. 

Through EAB, parents can request a Social Security number for a newborn while still at the hospital, with participating hospitals electronically sending birth registration information to the Social Security Administration. That process eliminates the need for a separate paper application or a visit to a Social Security office.

Nearly 99% of parents use the EAB process, according to Capito’s office, which argued that incorporating Trump Account enrollment into the system could make registration more convenient and expand participation.

“By providing for the establishment of Trump Accounts through the Social Security Administration’s existing birth registration process, we are cutting red tape and ensuring our children can benefit from this program from Day 1,” Capito said in announcing the legislation.

The proposal follows a July 3 announcement from the Social Security Administration that it planned to launch a program allowing parents to enroll newborns in Trump Accounts. The senators say their legislation is intended to work alongside that effort by formally incorporating account enrollment information into the EAB program.

The legislation also comes as policymakers and the financial industry grapple with how to simplify enrollment. The IRS has indicated that conventional automatic enrollment in Trump Accounts is likely not possible because of logistical hurdles and tax privacy laws, while industry advocates have urged Treasury to develop another approach.

According to Secretary of the Treasury Scott Bessent, about 7 million children have been signed up for the accounts, as of late July.

Trump Accounts are investment accounts for children that began accepting contributions in July. Employers can contribute up to $2,500 annually, while contributions from all taxable sources can total as much as $5,000 a year. Children born between 2025 and 2028 are eligible for a $1,000 federal seed contribution.

Parents currently can establish an account through the Trump Accounts website or by filing Form 4547 with their tax return. The Capito-Justice proposal would add the newborn Social Security registration process as another pathway designed to reach families at the beginning of a child’s life.