Trump Administration Announces Automatic Enrollment of Millions of Children in New Savings Accounts
The White House revealed that nearly 70 million Trump Accounts have been opened, with automatic enrollment now completed for children under 18 who have a Social Security number.
President Donald Trump is set to celebrate the completion of automatic enrollment for Trump Accounts, a program that now lists almost 70 million accounts for children under 18 with valid Social Security numbers. The Treasury Department handled the bulk of the enrollments, but families must still claim the accounts through the official app or website to activate them and receive any contributions. The $1,000 federal seed payment is only available to U.S. citizen children born from 2025 to 2028, requiring guardians to claim the account first.
Economists are divided: some warn of fiscal costs and market exposure for low-income families, while others argue the early-investment model can boost financial literacy and compound wealth over time. White House spokeswoman Taylor Rogers described the initiative as a "life-changing" step toward the American Dream for future generations. The upcoming Oval Office event will outline next steps for parents and guardians to secure and grow these accounts.
Why it matters
The program could shape how millions of American children begin saving and investing, affecting future wealth distribution.
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