Senate Bill 988
Contributions by the Department of Financial Institutions to Trump accounts
Topics: Financial Institutions, Department of, Retirement: Private plans, United States: Treasury, Department of, Youth
Stopped in committee
It never got a , so it never came up for a vote. The last day for votes this session was Mar 19, 2026. To try again, a lawmaker would have to start a new bill.
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Introduced, passed
Feb 6, 2026
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Committee, stopped here
Stopped here. No public hearing was held.
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Senate vote, not reached
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Assembly vote, not reached
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Governor, not reached
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Law, not reached
Latest entry in the official record, Mar 23, 2026: “Failed to pass pursuant to ”
It never got a hearing in the Senate Committee on Financial Institutions and Sporting Heritage. The committee's chair at the time was Rob Stafsholt. Chairs decide which bills get a hearing. See every bill that never got a hearing this session.
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The same bill was also filed in the Assembly as AB 996. That version died when the session ended.
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
What it would have done
Summary by the , the Legislature's nonpartisan drafting office. It's their wording, not ours.
This bill requires the Department of Financial Institutions to make contributions to certain Trump accounts.
Federal law provides for the establishment of Trump accounts for eligible individuals and allows for the accounts to begin accepting contributions on July 4, 2026. A Trump account is a type of traditional individual retirement account (IRA) that is established for the exclusive benefit of an eligible individual, also known as the account beneficiary, and that is designated as a Trump account when the account is opened. An eligible individual is an individual for whom an election is made to establish a Trump account, who has not attained 18 years of age before the end of the calendar year in which the election is made, and who has been issued a social security number. Although a Trump account is similar to a traditional IRA in most respects, it is subject to special rules until the end of the calendar year before the calendar year in which the account beneficiary attains 18 years of age. During this period, there is a restriction on the types of investments in which Trump account funds may be invested and generally no distributions may be made from the Trump account. Under a federal pilot program, the federal Treasury Department generally pays $1,000 into the Trump account if the account beneficiary was born in a calendar year from 2025 to 2028, is a U.S. citizen, has a social security number, and has elected to receive the payment. Federal law also provides that a state or local government may contribute to the Trump accounts of a specified class of individuals, such as state residents under age 18, and that these contributions are not taxable to the recipients or subject to an annual limit on contributions.
Read the full summary Show less
This bill requires DFI to make a matching contribution of $1,000 to a Trump account if the federal Treasury Department has made a payment to the Trump account and the account beneficiary was born in this state and resides in this state at the time of DFI’s contribution. However, DFI must make contributions to Trump accounts only to the extent that funds are available.
Who's behind it
2 senators are its . All 2 are Republicans.
8 more lawmakers .
See all 10 names Hide the names
Authors (2)
- Rachael Cabral-Guevara · Republican, Senate
- Romaine Quinn · Republican, Senate
Signed on in support (8)
- Elijah Behnke · Republican, Assembly
- Rick Gundrum · Republican, Assembly
- Rob Kreibich · Republican, Assembly
- Clint Moses · Republican, Assembly
- Dave Murphy · Republican, Assembly
- Jim Piwowarczyk · Republican, Assembly
- Jessie Rodriguez · Republican, Assembly
- Duke Tucker · Republican, Assembly
What happened
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Mar 23, 2026
The session ended, and the bill died with it.
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Feb 6, 2026
Sent to the Senate Committee on Financial Institutions and Sporting Heritage.
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Feb 6, 2026
Introduced in the Senate.
See the official record, word for word Hide the official record
- Feb 6, 2026 · Senate
Introduced by Senators Cabral-Guevara and Quinn; cosponsored by Representatives Behnke, Gundrum, Kreibich, Moses, Murphy, Piwowarczyk, Rodriguez and Tucker
- Feb 6, 2026 · Senate
Read first time and referred to Committee on Financial Institutions and Sporting Heritage
- Mar 23, 2026 · Senate
Failed to pass pursuant to Senate Joint Resolution 1
Terms on this page
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1. More in the glossary
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis. More in the glossary
Author
A lawmaker who formally puts a bill forward. The text itself is drafted by the Legislative Reference Bureau.
Official term: Author, coauthor. More in the glossary
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor. More in the glossary
From the Wisconsin Legislature's official record, checked Sep 15, 2026. See the source
Committee
A small group of lawmakers that looks at a bill first. Most bills never leave committee.
Public hearing
A meeting where anyone can speak to a committee about a bill, or send written comments.
Senate Joint Resolution 1
The session's calendar. Any bill not passed by its last voting day dies.
Official term: Failed to pass pursuant to SJR 1
Legislative Reference Bureau
The Legislature's nonpartisan office that drafts bills and writes the summary at the top of each one.
Official term: LRB analysis
Signed on in support
Lawmakers who back a bill without being one of its authors, often from the other chamber.
Official term: Cosponsor