Trump Accounts launch July 4, giving newborns $1,000. Here’s what to know
Summary
President Donald Trump’s administration is launching "Trump Accounts" on July 4, 2026, to give $1,000 in investment money to newborns during his second term. The money is invested in the stock market and can only be used by the child after turning 18 for things like education, buying a home, or starting a business.Key Facts
- Trump Accounts start on July 4, 2026, linked to America’s 250th anniversary.
- Any child born during President Trump’s second term is eligible for a $1,000 government deposit.
- Parents can open accounts for children up to 17 years old, but older children won’t get the $1,000 from the government.
- The money is invested in U.S. stock market index funds managed by private firms with low fees.
- Children can access the funds only after age 18 and must use it for approved purposes like education, business, or a home purchase.
- Families can contribute additional money each year, up to $2,500 pretax, with a total cap of $5,000 from all contributors.
- Billionaires like Michael Dell and Sanjay Mehrotra have pledged billions of dollars to support these accounts for children ineligible for the government deposit.
- The program launches amid rising living costs and cuts to some social safety net programs.
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