THE BARE STORY
President Donald Trump announced that nearly 70 million children have been enrolled in tax-advantaged investment accounts known as Trump Accounts, after the Treasury Department automatically added more than 60 million minors this month.
The accounts are available to U.S. children under 18. Children born from 2025 through 2028 are eligible for a $1,000 government-funded initial deposit. Parents must use an application to verify their identity and accept the account terms to manage the accounts.
Trump spoke at a White House event on Wednesday alongside Michael Dell, Susan Dell and investor Brad Gerstner, urging parents to claim the accounts. Michael and Susan Dell have pledged $6.25 billion for children born between 2016 and 2024 in certain income-qualified ZIP codes, while Gerstner has committed funds for children in Indiana.
The Treasury Department and Internal Revenue Service have issued temporary rules allowing accounts to receive donations of individual stocks, which generally must be held for five years before sale. Treasury regulations said individual-stock contributions can create increased portfolio concentration risk.
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