New York Stock Exchange opening bell to be rung from Oval Office for Trump Accounts launch
The program has drawn more than 6 million sign-ups and gives babies born from 2025 to 2028 a $1,000 Treasury deposit.
- On July 4, President Donald Trump's administration will launch Trump Accounts, providing newborns born between 2025 and 2028 with a $1,000 initial deposit from the Treasury Department to encourage long-term financial security.
- First lady Melania Trump announced updated guidance earlier this month for 'Fostering the Future Accounts,' allowing state child welfare agencies and foster youth representatives to open accounts for children in foster care.
- Parents, guardians, and employers can contribute up to $5,000 annually to these IRA-style accounts, with employers permitted to add up to $2,500 per worker; funds cannot be withdrawn before age 18.
- The New York Stock Exchange will ring the opening bell from the Oval Office next week to mark the launch, White House economic adviser Kevin Hassett said Monday.
- Researchers like Anqi Chen of Boston College caution that while the accounts offer early investment access, they may not resolve persistent gender gaps where women sacrifice retirement security for family needs.
28 Articles
28 Articles
New Trump Accounts could benefit 2 million NC children
Parents in North Carolina and across the US have a new way of helping provide for their child’s financial future. The Trump 530A Accounts, a custodial-style traditional IRA, which are set to launch on July 4, came about under the One Big Beautiful Bill Act last year. Babies born from Jan. 1, 2025, to Dec. 31, 2028, will get $1,000 from the Treasury Department. All other children under the age of 18 can receive $250. According to IRS.gov, parents…
Exclusive: SpaceX, US government discuss stock donation for Trump Accounts
The ScoopThe Trump administration has spoken with SpaceX about donating stock to the children’s savings accounts known as Trump Accounts that are expected to launch next week, a person familiar with the matter said.Any donation would cement the ongoing reconciliation between Elon Musk and President Donald Trump following the implosion of their relationship last year. The billionaire was an early ally and donor to the president, but left acrimoni…
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