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White House to launch Trump Accounts on July 4
The tax-advantaged accounts let families, employers and philanthropies add money over time, while Treasury says 1.4 million newborns qualify for the initial deposit.
- The Trump administration's "Trump Accounts" launched on July 4 to foster financial independence for American children, coinciding with the 250th anniversary of the Declaration of Independence.
- Enacted last year as part of a Republican tax bill, the program automatically provides $1,000 in seed money from the Treasury Department to children born between January 2025 and December 2028.
- More than 6 million children signed up before launch. Parents can contribute up to $2,500 annually in pretax income, with funds invested in the stock market and accessed by children at age 18.
- Treasury Department officials stated they would accept stock contributions from billionaires including Elon Musk, Michael Dell, and Sanjay Mehrotra. The White House plans to ring NYSE and Nasdaq opening bells this week to promote the program.
- Critics argue the accounts fail to address immediate needs for vulnerable children and may exacerbate the wealth gap. The administration introduced them alongside cuts to Medicaid and SNAP programs.
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Trump Accounts Receive Highest Praise: 'The American Dream Belongs to Every Child'
Trump Accounts are helping the next generation of Americans build wealth, said supporters of President Donald Trump's Trump Accounts program, which formally launched over the Fourth of July weekend. The post Trump Accounts Receive Highest Praise: ‘The American Dream Belongs to Every Child’ appeared first on Breitbart.
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President Trump Answers Media Questions During Launch of Trump Account Event
During an event to launch the official beginning of the ‘Trump Accounts’ for kids, savings accounts specifically created for American children at no cost to the family, President Trump took questions from the media. WATCH: . Posted in President Trump, Press Secretary - Trump Sharemore
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Total News Sources107
Leaning Left21Leaning Right12Center49Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 25%
C 60%
15%
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