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Trump celebrates automatic enrollment of 70M children's investment accounts
Fox Business • • business
Key Points:
- President Donald Trump announced the automatic enrollment of roughly 70 million American children under 18 in "Trump Accounts," tax-advantaged brokerage accounts designed to help build their savings for the future.
- Parents or guardians must claim their child's account to manage it or receive contributions, with an estimated 80% of accounts linked to families earning less than $200,000 annually.
- Private donors, including Michael and Susan Dell who pledged $6.25 billion, are contributing to these accounts alongside the federal government's one-time $1,000 seed payment for certain eligible children born between 2025 and 2028.
- Trump Accounts have a $5,000 annual contribution limit (excluding the government seed payment) and restrictions such as a ban on withdrawals until the beneficiary turns 18; over 70 companies have committed to contributing for their employees' children.
- Parents and guardians can claim and manage Trump Accounts via an official app available on Apple’s App Store, Google Play, and a web version.
