Trump's week in review: FDA update angers pro-lifers; Trump Accounts created for 70M children
4. Trump says every minor child in the US has been enrolled in Trump Accounts
At a White House event Wednesday, Trump updated supporters on Trump Accounts, his initiative to create tax-advantaged investment accounts for every American child under 18 with a Social Security number.
“Today, I’m pleased to announce that every single eligible minor child in America has now been enrolled in a Trump Account,” he said.
The White House said 60 million of the 70 million accounts were created automatically, and it urged parents to use the Trump Account app to “unlock what’s waiting for their child.”
“Since July 4, over $4.5 billion have been deposited in Trump Accounts,” Trump said.
The federal government deposits $1,000 into the accounts of children born between 2025 and 2028, and private companies are also contributing. Private sector donors, along with family and friends, can add money each year to help the accounts grow by the time a child turns 18.
A White House statement released Wednesday explains: “Family and friends can contribute up to $5,000 per year; employers can contribute up to $2,500 per year, subject to the overall $5,000 annual contribution limit, and children can qualify for philanthropic contributions that are automatically deposited into their accounts.”
The administration says, “Over time, children can watch their balance grow from a couple of thousand dollars in kindergarten to an estimated half a million dollars by retirement—while learning essential financial skills like saving, investing, compound growth, and diversification.”
Ryan Foley is a reporter for The Christian Post. He can be reached at: ryan.foley@christianpost.com
