The US Treasury Department and IRS announced proposed regulations on August 20 that would formally exclude ESG-focused funds from Trump Accounts, the tax-advantaged savings vehicles created under the One Big Beautiful Bill Act for children born between 2025 and 2028. Each account begins with a $1,000 government seed contribution and permits annual deposits up to $5,000, adjusted annually for inflation. No withdrawals are allowed until the beneficiary reaches 18, after which distributions are taxed like a traditional IRA. The accounts launched on July 4, 2026, with sign-ups starting earlier; by late January 2026 more than 500,000 families had enrolled. Eligible investments include the State Street SPDR Portfolio S&P 500 ETF (SPYM), the iShares Core S&P 500 ETF (IVV), and the Vanguard Total Stock Market ETF (VTI), provided they track an index of at least 90% US companies by weight, charge no more than 0.1% annually, and use no leverage. Any mutual fund or ETF that tracks an ESG index or is marketed with an ESG focus is ineligible. Trustees must review compliance yearly, with a 30-day window to divest any violating holdings.