West Virginia Urges Families to Open Trump Accounts With $1,000 Federal Deposit

3 articles · Updated · Charleston Gazette-Mail · May 16

Larry Pack, West Virginia’s state treasurer, is urging residents to enroll in Trump Accounts, a federal child-savings program announced by President Donald Trump in January.
July 4 is the start date for parents to open the accounts under the One Big Beautiful Bill Act, with the federal government depositing $1,000 for each eligible child.
Children born between Jan. 1, 2025, and Dec. 31, 2028, qualify for the initial federal contribution.
Michael Dell will add a $250 donation for some qualifying families, increasing the opening balance beyond the federal seed money.
The push gives West Virginia families a new savings option tied to a broader national effort to build assets for young children.

Is the free $1,000 for a Trump Account a better deal for your child's future than a traditional 529 savings plan?

The Trump Accounts program expires in 2028. What happens to the millions of accounts and the money saved for children after that?

The bill funding these accounts adds trillions to the deficit. What is the hidden long-term cost for your child's financial future?