President celebrates automatic enrollment of 70 million Trump Accounts for children
Parents must claim the accounts to manage them, while more than 70 companies and major donors are adding money to the program, officials said.
- On Wednesday, President Donald Trump held an Oval Office event celebrating the automatic enrollment of roughly 70 million American children in "Trump Accounts," urging parents to claim the new investment vehicles.
- Republicans' Big Beautiful Bill created these tax-advantaged brokerage accounts last year as IRAs, providing a $1,000 government seed payment and $5,000 annual contribution limits for families alongside $2,500 for employers.
- Dell Technologies CEO Michael Dell and Susan Dell donated roughly $6.25 billion to the program, while over 70 companies including Uber, Intel, and Nvidia committed to contributing to employees' children's accounts.
- Parents must claim accounts before managing funds or receiving private contributions, which supplement the $1,000 federal seed payment. To qualify, beneficiaries must be born between Jan. 1, 2025, and Dec. 31, 2028, with 80% of accounts linked to families earning less than $200,000.
- "If all goes well, they'll end up being quite rich by the time they're 18," Trump said, describing the initiative as enabling the next generation to benefit from a booming economy.
62 Articles
62 Articles
Less than a month after the elections, Trump announced a program to support minors with an initial government contribution of $1,000.
70M Kids Have Now Been Auto-Enrolled in 'Trump Accounts'
Kids across America just got investment accounts they didn't sign up for, Fox Business reports. President Trump on Wednesday hacked the Treasury Department's move to automatically open "Trump Accounts" for roughly 70 million eligible miners with Social Security numbers, calling it a way for today's children to grow "quite rich"...
Trump Accounts Expand to Millions of Children. Who Gets Money—and Who Chooses the Investments?
WASHINGTON — Nearly 70 million children now have Trump Accounts in their names, according to the White House, following an automatic enrollment expansion that also allows qualifying donations of individual company shares. Parents must still claim the accounts to manage them and obtain the federal payment available to eligible children. Michael Dell, the founder of […]
Donald Trump in full election campaign ahead of Midterm's vote continues to promise money to the Americans. After having secured in case of Republican victory $5,000 to every adult citizen, he now points to his children. Every "chosen child" will be enrolled in a "Trump account." And thanks to his administration there is a "wonderful law voted only by Republicans because Democrats say no to everything" that will allow the money of these funds fo…
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