During a rally on Wednesday, President Donald Trump promoted a new initiative that allows parents to open special accounts for their babies, offering a $1,000 start-up fund. Dubbed “Trump Accounts,” this initiative is designed to help children get a head start on the path to achieving the American dream.
The accompanying video comes from a previous news report.
“Think of that. The government is finally giving money back to our children,” Trump exclaimed to the enthusiastic crowd assembled at a high school in Georgia.
However, some parents who initiated these accounts earlier this month reported they are still awaiting their funds. The accounts officially became active on July 4, just two days before Trump ceremonially rang the opening bells for both the New York Stock Exchange and the Nasdaq from the Oval Office.
These tax-advantaged accounts are available for any child under 18, with Trump announcing that over 7 million accounts are already active. Babies born between January 1, 2025, and December 31, 2028, will receive a $1,000 grant from the U.S. Treasury. According to the Treasury Department, most families receive their funds within one or two days.
After the Trump Accounts are set up, parents, relatives, friends and employers can contribute to them. Some billionaires have also