West Virginia Bill HB 5544 creates state income tax deductions for Trump Account contributions

Original title: Creating deductions for contributions to Trump accounts

Last action · February 16, 2026: To House FinanceSponsors: Josh Holstein and 3 others

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What This Bill Proposed

West Virginia allows resident taxpayers to deduct annual contributions up to $1,000 for individuals or $2,000 for joint filers made to Trump Accounts for qualifying dependent children born between 2025 and 2028. The bill also exempts account earnings from personal income tax until distributed.

Why it matters

Taxpayers contributing to Trump Accounts for eligible children can reduce their taxable income up to specific caps, lowering state income tax liabilities while earnings grow tax-free until distribution.

Who It Would Have Affected

Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.

Directly affected

resident taxpayers

Taxpayers making contributions to eligible Trump Accounts may claim deductions against their West Virginia personal income tax.

Directly affected

qualifying dependent children

Children born between 2025 and 2028 who meet citizen criteria are designated beneficiaries of Trump Accounts with tax-exempt earnings.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What is the maximum deduction allowed for contributions to a Trump Account?

The maximum deduction is $1,000 for an individual taxpayer and $2,000 for married individuals filing a joint return.

Which children are eligible for a Trump Account under this legislation?

An eligible child must be a U.S. citizen born after December 31, 2024, and before January 1, 2029, who has no prior election made under this section by any individual.

Are earnings inside a Trump Account taxed in West Virginia?

No, earnings accruing within a Trump Account are exempt from West Virginia personal income tax until they are distributed.

What else do you want to know?

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Where This Stands

This bill did not become law - Died at adjournment · in House committee.

Procedural history

4 actions

Feb 16, 2026HouseCommittee
To House Finance
Feb 16, 2026HouseIntroduced
Introduced in House
Feb 16, 2026HouseCommittee
To Finance
Feb 16, 2026HouseIntroduced
Filed for introduction

Version history

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