Economists Say Trump Accounts Could Transform Long Term Savings For Millions Of Families
By Christina Park | Just the News
Backed by a $1,000 government seed deposit and billions in private philanthropy, the new tax-deferred accounts aim to give American newborns a massive financial head start.
"Trump Accounts” officially launched on Monday following a July 4 opening, drawing positive feedback from economists who project the program will provide significant financial benefits for American children nationwide.
The accounts come as part of Trump’s new tax law, the One Big Beautiful Bill, and are essentially tax-deferred investments for newborn American citizens born between January 1, 2025, and December 31, 2028. As of today, more than six million people have signed up for the accounts.
The program includes an automatic seed deposit of $1...