President Trump will make an announcement this afternoon on the automatic enrollment of children in his Trump Accounts program.
The program, which officially launched on July 4, provides a tax-advantaged investment account for children to get a head start on saving for adulthood. A $1,000 federal pilot contribution is also available for children born between January 1, 2025, and December 31, 2028, and additional benefits are available for children born in low-income areas.
Trump spoke in the Oval Office alongside Dell CEO Michael Dell, who pledged a $6 billion donation to the program, and his wife, Susan, to officially launch his Trump Accounts program in July.
Now, Trump is expanding the program to ensure that every American child is enrolled and able to reap the benefits before he leaves office.
“Trump Accounts are a life-changing initiative that will jump-start the American dream for generations to come,” White House spokeswoman Taylor Rogers told the Daily Signal.
“With automatic enrollment now complete, every American child under the age of 18 has a Trump Account in their name, making it easier than ever for families to participate. Nearly 70 million Trump Accounts have already been created, giving young Americans a new opportunity to build lifelong financial security.”
Millions of children have already been automatically enrolled in the program since automatic enrollment began.
More from the Hill:
The department said last month that accounts would be created for more than 60 million children. The move was, in part, to allow a $6.25 billion contribution pledge from Michael Dell to reach more eligible children, The Hill reported in September.
Prior to the auto-enrollment, Trump accounts had been established for roughly 7 million children. As many as 70 million may qualify, according to Treasury Secretary Scott Bessent.
The Treasury Department confirmed Thursday that automatic enrollment had been completed.
“This is a transformative milestone in the Trump Administration’s effort to give every American child the opportunity to build generational wealth and jump-start their financial future,” Bessent said in a press release.
Parents can now claim their children’s accounts and begin making contributions with tax-deferred earnings through the Trump Accounts app.
According to America.gov:
- Download the official Trump Accounts app for iOS or Android, or use TrumpAccounts.gov.
- Treasury also lists a web app at https://trumpaccount.com/ if you do not have a mobile device.
- Follow the in-app steps to claim and set up the account.
The event is scheduled to begin at 1 pm ET.
Watch live below:
