Trump to give all babies $1,000

“I believe that in a few decades, Trump accounts will be remembered as one of the most revolutionary innovations of all time,” he said.

The accounts, named after Trump, were created last year as part of a Republican tax and spending bill. They will be opened over the next three years ahead of the midterm elections in November, as Trump and the Republican Party seek to address health insurance affordability issues, Reuters reports.

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The US Treasury Department said it would deposit $1,000 into investment accounts for all children born between 2025 and 2028. According to estimates, about 25 million families will be eligible for these funds.

The government will invest this money in low-cost index funds that grow with tax deferrals. Income tax is only paid when the funds are withdrawn.

Official accounts will start operating on July 4, 2026. According to Treasury Secretary Scott Bessent, more than half a million families have already registered.

Trump said that the results will be measured not only by the wealth created, but also by how young people will buy homes they could not have dreamed of before. This will be evident in the degrees obtained, companies founded, families created, and children born.

The White House is encouraging families to make additional contributions to these accounts, and some private investors have already contributed more. Among them are entrepreneur Michael Dell and his wife Susan, who have invested $6.25 billion.

According to White House spokeswoman Caroline Levitt, these accounts will solve the problem of a lack of savings accounts for many American families.

The Trump administration expects that without additional contributions, by the time newborns reach adulthood, there will be $5,800 in the accounts.

Levitt added that if families contribute the maximum amount of $5,000 per year, by the time the newborn turns 28, the account could accumulate nearly $1.1 million.

According to financial analysts' estimates, with the maximum contribution, the investment portfolio will amount to about $700,000 by the age of 28.

Meanwhile, large US companies such as Visa and IBM have promised to contribute to the accounts of their employees in the US. Trump has called on all employers in the country to follow their example.

Photo: Truth Social.

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