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President Rings Stock Market Opening Bell to Celebrate Trump Accounts
The New York Times • • business
Key Points:
- President Trump launched a new savings account program for children, marked by ringing the stock market's opening bell in an Oval Office event.
- The accounts, funded initially with a $1,000 deposit from the Treasury, are available to children born between January 1, 2025, and December 31, 2028, who have a Social Security number.
- The White House projects the accounts' value could reach seven figures by the children's late 20s, attributing potential growth to the strong stock market performance under Trump's presidency.
- Enrollment requires parental sign-up via tax forms or at hospitals during Social Security number registration, with only about 1.4 million children enrolled so far, roughly 25% of eligible children.
- Contributions to the accounts can be made by individuals and employers, grow tax-free, and are accessible to the children once they turn 18.
