06.02.26

Working Families Tax Cuts’ Trump Accounts Are Giving Kids New Opportunities to Get Ahead

With the Launch of the Trump Accounts App, Parents Can Easily Take an Important Step Toward Setting Up Their Children’s Futures

trumpaccount

(Trump Accounts – accessed 6/2/26)

LAST WEEK, THE TREASURY DEPARTMENT LAUNCHED THE TRUMP ACCOUNTS APP, WHERE MILLIONS OF AMERICANS WILL BE ABLE TO HELP THEIR CHILDREN SAVE AND INVEST UNTIL THEY REACH ADULTHOOD

“The Trump Accounts app delivers a simple, secure way for households to begin engaging with a program designed to build long-term financial strength from day one.” – Secretary of the Treasury Scott Bessent

  • “Americans can now download the Trump Accounts app, as part of the rollout of a new federal program to help children save money before they reach adulthood. The app, which debuted Thursday, will allow parents or guardians to manage the tax-preferred investment accounts on behalf of their kids.” (CBS News: Trump Accounts app is now available. Here's what to know – 5/29/26)
  • “The app is available in the Apple and Google app stores and will be the primary way parents can access and manage the accounts, Treasury officials said. It also includes eight financial literacy modules for families.” (The Washington Post: ‘Trump accounts’ app launches to manage $1,000 federal investment per child – 5/28/26)
  • “Families who haven’t yet enrolled can do so at TrumpAccounts.gov.” (The Wall Street Journal: The App for Trump Accounts Will Launch Thursday. Here’s What to Know. – 5/27/26)
  • Beginning July 4, Trump Accounts “let parents jump-start tax-advantaged retirement savings for a child at birth. By the time the kids retire, they could end up with giant retirement accounts.” (The Wall Street Journal: The Hack That Turns Trump Accounts Into Multimillion-Dollar Tax-Free Nest Eggs – 3/23/26)
  • “Parents will be able to schedule automated contributions through the app and project future account balances, according to a preview shared with The Wall Street Journal.” (The Wall Street Journal: The App for Trump Accounts Will Launch Thursday. Here’s What to Know. – 5/27/26)
  • “Children take control of the account once they turn 18. They could choose to withdraw funds or continue investing, subject to the rules that apply to traditional individual retirement accounts.” (The Wall Street Journal: The App for Trump Accounts Will Launch Thursday. Here’s What to Know. – 5/27/26)

WITH NEARLY SIX MILLION CHILDREN ALREADY SIGNED UP, TRUMP ACCOUNTS PROVIDE A $1,000 INVESTMENT FOR NEWBORNS AND NEW OPPORTUNITIES FOR EVERY CHILD

  • “Nearly 6 million children have been signed up for the accounts, officially dubbed ‘Trump accounts,’ which were created through the Republican tax-and-spending law last summer.” (The Washington Post: ‘Trump accounts’ app launches to manage $1,000 federal investment per child – 5/28/26)
  • “Think of ‘Trump Accounts’ as seed money to encourage children and families to save and build wealth for the many expenses of adulthood.” (USA Today: 'Trump Accounts' for kids just got a $6B boost. How can you claim one? – 12/2/25)
  • “Under the ‘Trump accounts,’ children in the United States with a Social Security number born between Jan. 1, 2025, and Dec. 31, 2028, will be given a stock market account with a one-time $1,000 deposit from the Treasury that will grow similarly to individual retirement accounts, or IRAs, according to the IRS.” (The Hill: Treasury to hold summit on Trump accounts – 1/25/26)
    • There are 44 million American families with children under the age of 18 that are eligible for Trump Accounts. (U.S. Department of the Treasury: Trump Accounts Jumpstart the American Dream – 1/22/26)
    • “Parents or guardians can start contributing to accounts starting July 4, 2026, and deposit up to $5,000 per year.” (The Hill: Treasury to hold summit on Trump accounts – 1/25/26)
    • “The accounts can be a good idea even for parents whose children don’t qualify for the free $1,000 in federal money, since employers, charities and others can also make contributions.” (The Wall Street Journal: The App for Trump Accounts Will Launch Thursday. Here’s What to Know. – 5/27/26)
    • “As part of the $5,000 limit, employers can contribute up to $2,500 per worker per year, which won’t count as taxable income, according to the IRS. This figure also adjusts for inflation after 2027.” (CNBC: Trump accounts get supercharged by employer matches — some companies offer up to $1,000 – 1/25/26)

WITH MILLIONS OF AMERICANS NOT INVESTED IN THE STOCK MARKET, TRUMP ACCOUNTS ALLOW YOUNG AMERICANS TO GAIN A FOOTHOLD IN THE MARKET

“Through Trump Accounts, our President is creating an ownership economy where all citizens become shareholders in America’s wealth. Today, 38% of American adults do not own stocks. But with Trump accounts, over time, we can get that number down to zero.” – Secretary of the Treasury Scott Bessent

  • “At a briefing on the program, Bessent projected that the $1,000 deposited into a Trump Account by the government when a child is born would grow to over $600,000 by retirement age, assuming that the historic growth rate continues. For families who invest $5,000 each year in the accounts, that sum would grow to $1 million, he added.” (CBS News: Bessent unveils new Trump Accounts website as part of push to encourage saving for children – 12/17/25)
  • Trump Accounts address the issue of millions of Americans missing out on stock market gains:
    • As of 2025, only 62% of Americans reported owning stocks. In 1998, 60% of Americans reported owning stocks. (Gallup: What Percentage of Americans Own Stock? – 5/5/25)
    • “The percentage owning stock is highest among adults in households earning $100,000 or more (87%), college graduates (84%) and married adults (77%). By contrast, the rate is 49% among unmarried adults, 42% among those with a high school education or less, and 28% among those in households earning less than $50,000.” (Gallup: What Percentage of Americans Own Stock? – 5/5/25)
    • “Stock ownership also varies significantly by race/ethnicity, with 70% of White adults owning stock, compared with 53% of Black adults and 38% of Hispanic adults.” (Gallup: What Percentage of Americans Own Stock? – 5/5/25)