WASHINGTON — President Donald Trump announced Wednesday that the federal government will automatically set up investment accounts for 70 million Americans under 18 under the program known as Trump Accounts.
The accounts, created as part of last year’s tax overhaul, let families put up to $5,000 a year of after-tax money into stock investments. The government will also seed accounts with $1,000 for children born between 2025 and 2028, Trump said.
Parents or legal guardians must formally claim the accounts through the program’s website or mobile app, the president said.
Trump called the accounts “a passion of love” that promotes capitalism.
Treasury Secretary Scott Bessent has said a Trump Accounts mobile app is expected Thursday, and private donors have pledged billions more to build on the program, including a commitment of more than $6 billion from the Dell family, according to related coverage of the rollout.
