"Trump Accounts are investment accounts for kids. The federal government will contribute $1,000 for newborns to kick-start the account. Parents or guardians can then add their own money - up to $5,000 a year - to maximize growth, but contributing isn't required. Adults will have control of the account until their child turns 18. At age 18, the child can either withdraw the funds or continue to use the account for long-term investment. The account will be fully in the child's name."
"Who is eligible? Parents can open a Trump Account for any child under 18 with a valid Social Security number.Onlybabies born between January 1, 2025 and December 31, 2028 will receive a $1,000 contribution from the government. Dell Technologies founder Michael Dell and his wife Susan announced that they would fund an additional $250 to the accounts for children under 10 in areas with a median household income under $150,000."
Trump Accounts are federally backed investment accounts for children that will open July 2026. The Treasury will deposit a one-time $1,000 into accounts for babies born between January 1, 2025 and December 31, 2028. Parents or guardians can open accounts through the IRS for any child under 18 with a valid Social Security number and may contribute up to $5,000 per year, though contributions are optional. Adults control accounts until the child turns 18, after which the child can withdraw funds or continue investing. Additional private funding includes a $250 contribution from Michael and Susan Dell for eligible low-to-moderate-income areas.
Read at Business Insider
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