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What is a ‘Trump Account’ and How Can it Help New Parents and Their Babies?

Summary by CPA Practice Advisor
Under the tax-and-spending bill currently in Congress, qualifying parents of newborn children through Dec. 31, 2028, will receive $1,000 for what’s being called a Trump Account. It could be opened by a parent or guardian.
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CPA Practice AdvisorCPA Practice Advisor

What is a ‘Trump Account’ and How Can it Help New Parents and Their Babies?

Under the tax-and-spending bill currently in Congress, qualifying parents of newborn children through Dec. 31, 2028, will receive $1,000 for what’s being called a Trump Account. It could be opened by a parent or guardian.

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CPA Practice Advisor broke the news in on Monday, June 23, 2025.
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