The One Big Beautiful Bill Act, recently signed into law by President Donald Trump, allows millions of babies born in the U.S. to receive a $1,000 “Trump Account.”
The new savings program offers children an initial one-time $1,000 government investment at birth. Parents and relatives can contribute up to $5,000 annually to a child’s account until the child turns 18, with the cap potentially adjusted for inflation after 2027. If the maximum contribution is made each year on the child’s birthday through age 17, the account could grow to between $191,500 and $676,400, depending on investment performance.
“This will afford a generation of children the chance to experience the miracle of compounded growth and set them on a course for prosperity from the very beginning,” the White House said.
LiveNOW’s Mike Pache spoke to USA Today reporter Daniel De Visé about ‘Trump Accounts,’ and what to expect from the White House’s announcement on Tuesday.
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