President Donald Trump celebrated the upcoming launch of the Trump Accounts, a new effort establishing investment accounts for children.
Speaking during a summit hosted by the Treasury Department, Trump said, “For the first time ever, we’re going to give every newborn American child a financial stake in the future, a head start at life, and a fair shot at the American Dream.”
“Over the next 15 years, we’re going to put $3 [trillion] to $4 trillion of wealth into the hands of young Americans who otherwise would have really started out with nothing,” Trump added, going on to declare that he believes “that Trump Accounts will be remembered as one of the most transformative policy innovations of all time.”
“Every President in modern history has left our children with nothing but debt — but under this Administration, we’re going to leave every child with real assets and a shot at financial freedom,” he declared.
Several banks have announced they would match the government’s one-time $1,000 contribution to the accounts. JPMorgan Chase CEO Jamie Dimon said in a press release that the company’s match for eligible employees makes it easier for children to “start saving early, invest wisely, and plan for their family’s financial future.”
Bank of America also said that it will match the contributions for eligible employees. “We applaud that the federal government is providing innovative solutions for employees and families to plan for their future, and we welcome the opportunity to participate,” the company stated.
In August, the White House unveiled its detailed plan for the Trump Accounts as described under the “One Big Beautiful Bill.”
“An American child born after December 31, 2024 and before January 1, 2029 for whom a Trump Account is established will receive an initial $1,000 deposit from the government, with the potential for parents to contribute up to an additional $5,000 per year initially,” the White House said at the time. “Employers may make an annual contribution of up to $2,500 to a Trump Account and that contribution will not impact the employee’s taxable income.”
According to estimates made by the Council of Economic Advisers (CEA) using average stock market return data, a Trump Account balance for a child born in 2026 will be $303,800 by age 18 and $1,091,900 by age 28 if maximum contributions are made, and $5,800 by age 18 and $18,100 by age 28 if no contributions are made to the account, the White House statement explained.
