“Trump Accounts” officially launched on Monday following a July 4 opening, drawing positive feedback from economists who project the program will provide significant financial benefits for American children nationwide.
The accounts come as part of Trump’s new tax law, the One Big Beautiful Bill, and are essentially tax-deferred investments for newborn American citizens born between January 1, 2025, and December 31, 2028. As of today, more than six million people have signed up for the accounts.
The program includes an automatic seed deposit of $1,000 from the Treasury Department into each account, which is invested into low-cost, diversified US stock index funds, such as mutual funds or exchange-traded funds (ETFs).
Parents or employers can make private contributions of up to $5,000 annually, with employers able to contribute up to $2,500 tax-free as part of the $5,000 cap.
