Page 116

139 STAT. 186 PUBLIC LAW 119–21—JULY 4, 2025 ‘‘SEC. 128. EMPLOYER CONTRIBUTIONS TO TRUMP ACCOUNTS. ‘‘(a) IN GENERAL.—Gross income of an employee does not include amounts paid by the employer as a contribution to the Trump account of such employee or of any dependent of such employee if the amounts are paid or incurred pursuant to a program which is described in subsection (c). ‘‘(b) LIMITATION.— ‘‘(1) IN GENERAL.—The amount which may be excluded under subsection (a) with respect to any employee shall not exceed $2,500. ‘‘(2) INFLATION ADJUSTMENT.— ‘‘(A) IN GENERAL.—In the case of any taxable year beginning after 2027, the $2,500 amount in paragraph (1) shall be increased by an amount equal to— ‘‘(i) such dollar amount, multiplied by ‘‘(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins by substituting ‘calendar year 2026’ for ‘calendar year 2016’ in subparagraph (A)(ii) thereof. ‘‘(B) ROUNDING.—If any increase determined under subparagraph (A) is not a multiple of $100, such increase shall be rounded to the next lowest multiple of $100. ‘‘(c) TRUMP ACCOUNT CONTRIBUTION PROGRAM.—For purposes of this section, a Trump account contribution program is a separate written plan of an employer for the exclusive benefit of his employees to provide contributions to the Trump accounts of such employees or dependents of such employees which meets require- ments similar to the requirements of paragraphs (2), (3), (6), (7), and (8) of section 129(d).’’. (2) CLERICAL AMENDMENT.—The table of sections for part III of subchapter B of chapter 1 is amended by inserting after the item relating to section 127 the following new item: ‘‘Sec. 128. Employer contributions to Trump accounts.’’. (c) CERTAIN CONTRIBUTIONS EXCLUDED FROM GROSS INCOME.— (1) IN GENERAL.—Part III of subchapter B of chapter 1 is amended by inserting before section 140 the following new section: ‘‘SEC. 139J. CERTAIN CONTRIBUTIONS TO TRUMP ACCOUNTS. ‘‘(a) IN GENERAL.—Gross income of an account beneficiary shall not include any qualified general contribution to a Trump account of the account beneficiary. ‘‘(b) DEFINITIONS.—Any term used in this section which is used in section 530A shall have the meaning given such term under section 530A.’’. (2) CLERICAL AMENDMENT.—The table of sections for part III of subchapter B is amended by inserting before the item relating to section 140 the following new item: ‘‘Sec. 139J. Certain contributions to Trump accounts.’’. (d) TRUMP ACCOUNTS CONTRIBUTION PILOT PROGRAM.— (1) IN GENERAL.—Subchapter B of chapter 65 is amended by adding at the end the following new section: 26 USC prec. 101. 26 USC 139J. 26 USC prec. 101. Effective date. 26 USC 128.