Trump announces automatic enrollment in Trump accounts

By C-SPAN

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President Trump on Wednesday announced that every eligible child in America will be automatically enrolled in a Trump Account, a tax-deferred investment account created under last year's One Big Beautiful Bill Act. "Under this program, the U.S. government is automatically creating a tax-free investment account for every child to grow over the course of their lives and to be used to their benefit and for their benefit after they turn 18," he said in the Oval Office. Children born between Jan. 1, 2025, and Dec. 31, 2028, are eligible for an initial $1,000 government contribution, while family members and others can contribute up to $5,000 per year. Previously, parents or guardians had to sign children up for the accounts. Under the new system, accounts will be created automatically, though a parent or guardian must still claim the account to manage it. "If all goes well, which I think it will, they'll end up being quite rich by the time they're 18 and then 21 and as time goes by,