President Trump said Wednesday during a rally in Marietta, Georgia, that the new Trump Accounts program, a centerpiece of his signature “Big Beautiful Bill,” has already enrolled more than 7 million children and attracted nearly $1.5 billion in deposits in under three weeks.
Mr. Trump and multiple administration officials all touted the Trump Accounts, a tax-free investment savings account for every American child under the age of 18.
“I’m seeing it. And again, over 7 million. And it really just started,” Mr. Trump told the crowd at Wheeler High School, calling the program the “most consequential” provision of the Big Beautiful Bill.
“It’s hot as a pistol,” Mr. Trump said.
Children born between Jan. 1, 2025, and Dec. 31, 2028, who are U.S. citizens can receive a $1,000 government deposit to their Trump Account. The eligibility period more or less covers Mr. Trump’s second term in office.
Mr. Trump praised private donors who provided seed money to the Trump Accounts including Michael and Susan Dell who donated “billions of dollars” to fund Trump accounts “for millions of children.”
Parents, guardians, relatives and friends can contribute up to $5,000 per year combined per child. Employers may contribute up to $2,500 per year, counting toward the annual cap.
Government projections show that a child whose family maxes out contributions could see the account grow to nearly $300,000 by age 18, and funds may be used for college, starting a business or buying a home.
“With the modest contribution, these accounts will reach hundreds of thousands of dollars for these young people by the time they get to, let’s say, 18, let’s say 21,” Mr. Trump said.
“For decades, Washington politicians gave our children absolutely nothing but debt. But the Trump accounts, we’re finally seeing and ensuring that every young American gets a great start in life and a really fair shot at the American dream, which is what we all want.”
Treasury Secretary Scott Bessent declared the Trump account initiative to be “the most successful program launch in government history” and said the federal government enrolled 1 million children every month between the program’s announcement last December and its formal launch.
“Trump accounts represent the most successful program launch in government history with more than 6 million sign-ups even before it went live on July 4,” Mr. Bessent said.
“No tech launch in history has seen those numbers,” he added, also noting that the beneficiaries span economic classes.
“Eighty-six percent of enrolled children are from families earning less than $200,000. Trump accounts are reaching the very people they were designed to serve,” he said.
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