Secretary Bessent said this is part of the administration’s “effort to give every American child the opportunity to build generational wealth and jump-start their financial future.”
The Treasury Department reported on Thursday that automatic enrollment for Trump accounts was completed. Every eligible child under the age of eighteen who has a valid Social Security number now has a Trump Account.
“Trump Accounts are tax-advantaged investment accounts for American children under the age of eighteen. Claiming a child’s account is a powerful step toward building lifelong financial security,” the department explained. “A parent or guardian must claim the child’s automatically enrolled Trump Account to manage it and allow for family members, friends, and employers to contribute.”
“Millions of children have already enrolled in Trump Accounts. With automatic enrollment, over 60 million more eligible children now have an account ready to be claimed,” said Treasury Secretary Scott Bessent. “This is a transformative milestone in the Trump Administration’s effort to give every American child the opportunity to build generational wealth and jump-start their financial future.”
As the Lord Leads, Pray with Us…
- For Secretary Bessent and Treasury Department officials as they administer the Trump accounts.
- For discernment for the president and members of his Cabinet as they consider ways to support Americans’ financial future and stability.
Sources: Department of the Treasury
