Trump Accounts Enroll 6 Million Children as 86% of Families Earn Under $200,000
Updated
Updated · Bloomberg · Jul 6
Trump Accounts Enroll 6 Million Children as 86% of Families Earn Under $200,000
3 articles · Updated · Bloomberg · Jul 6
Summary
6 million children have enrolled in Trump Accounts, Treasury Secretary Scott Bessent said Monday, marking an early uptake milestone for the tax-advantaged savings program for minors.
Parents can contribute up to $5,000 a year, while children born from 2025 through 2028 receive a $1,000 federal Treasury deposit.
86% of enrolled children come from families earning less than $200,000, a figure the administration is using to argue the program is reaching beyond affluent households.
Critics still say the accounts may miss the lowest-income families, because participation depends on parents having money available to invest.