Trump Accounts: Some families still waiting for baby's $1,000

Key Points:

• President Donald Trump is promoting "Trump Accounts," investment accounts offering $1,000 seed money to every child born during his second term, aimed at reducing child poverty and increasing stock market participation.
• The accounts, created through Trump's One Big Beautiful Bill, allow contributions from family and employers and invest funds in index funds, accessible only when the child turns 18 for specific purposes like education or buying a home.
• While the Treasury Department reports 6.5 million sign-ups and says most parents receive seed funding within days, some parents, like the McLellans from New Jersey, report delays of several weeks in receiving the initial $1,000.
• Critics argue Trump Accounts do not address immediate needs of children in poverty and note that the bill also cut funding for programs like Medicaid and SNAP, which support low-income families.
• The program is positioned as a universal alternative to "baby bonds" targeted at disadvantaged children, with supporters hoping it counters rising support for democratic socialist policies by promoting investment opportunities for all families.