Foster children can now use tax-advantaged education savings accounts.
H.R. 9920 — Foster Youth Investment Act · Filed by Blake Moore (R-UT) · Introduced Jul 23, 2026 · Referred to committee
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What it does
This bill lets foster children open 529 education savings accounts. These accounts let people save money for school without paying taxes on growth. Foster children under state or tribal custody can be account owners. The change applies to money saved after December 31, 2025.
Who it affects
Foster children and their guardians can now use these accounts. Banks and companies that run 529 accounts will handle more of them.
One thing to notice
The bill calls 529 plans 'Trump accounts' as a short name.
From the analysis of the bill text, linked under Primary records below.
Where it stands
- Jul 23, 2026 — Introduced · Congress.gov: “Introduced in House”
- Jul 23, 2026 — Referred to House Committee on Ways and Means · Congress.gov: “Referred to the House Committee on Ways and Means”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- 529 education savings accounts — Bank accounts where families save money for school without paying taxes on growth.
- foster children — Children placed in the care of guardians by the state or tribal government.
- tax-advantaged — A savings method where the government does not tax money that grows in the account.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (1,272 characters) on Aug 12, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,707 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-09-23.
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