Trump Accounts: Here's Who Gets the $1,000 Payment on July 4
Summary
The Trump administration is starting a new program called "Trump Accounts" on July 4, 2025. Eligible children born between 2025 and 2028 will receive a one-time $1,000 government payment placed in an investment account to help build their financial future.Key Facts
- Trump Accounts are government-backed investment accounts for children.
- A $1,000 federal payment will be given once to children born from January 1, 2025, to December 31, 2028.
- To qualify, the child must be a U.S. citizen with a valid Social Security number.
- Parents or guardians must open the Trump Account for the child.
- The accounts invest in U.S. stock market funds like those tracking the S&P 500 index.
- Money in the accounts grows over time and cannot be easily withdrawn until certain rules apply.
- Private individuals and organizations can add money to the accounts, but yearly contributions are limited to $5,000.
- Children born before 2025 can have accounts but do not get the $1,000 federal deposit.
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