Trump Team Eyes 70 Million Child Accounts in 90 Days as Opt-In Model Risks Low Takeup
Updated
Updated · Business Insider · Jul 13
Trump Team Eyes 70 Million Child Accounts in 90 Days as Opt-In Model Risks Low Takeup
3 articles · Updated · Business Insider · Jul 13
Summary
Up to 70 million Trump Accounts for Americans under 18 could be auto-created within 90 days, Brad Gerstner said, describing it as President Donald Trump’s push to speed enrollment.
The plan would shift the program from parent-driven signup to automatic creation using existing government data, though Gerstner said it still requires coordination with the Treasury, White House and Social Security Administration.
Trump Accounts launched on July 4 as an opt-in investment program for children; eligible newborns born from 2025 to 2028 receive a $1,000 Treasury deposit.
$125 million flowed in from families during the first five days, according to the White House, while Gerstner said total deposits have already topped $1 billion with added support from donors and employers.
Researchers have long argued auto-enrollment is critical because opt-in child savings programs typically post lower participation, especially among low-income families.