Trump Celebrates Trump Accounts as Millions Get Enrolled

President Donald Trump marked the automatic enrollment of roughly 70 million children’s investment accounts during an Oval Office press conference.

The Treasury Department confirmed that every eligible child under 18 with a valid Social Security number now holds a Trump Account, a government-created, tax-advantaged vehicle intended to grow over the holder’s lifetime.

Parents or guardians must still claim the accounts in order to manage them or receive additional contributions.

Trump said, “If all goes well, which I think it will, they’ll end up being quite rich by the time they’re 18, and then 21, and as time goes by. This money is your child’s future. And when you were a child in the old days, your child would hit 18 and there’s nothing.”

He added, “Now, every member of the next generation will have an investment account and will benefit from our booming economy.”

An estimated 80 percent of the accounts are linked to families earning less than $200,000 a year, according to a White House official.

Automatic enrollment also expands the reach of private philanthropic gifts that can supplement the accounts.

Trump thanked Michael and Susan Dell for donating roughly $6.25 billion, which supplies $250 to 25 million account holders, with the funds scheduled for deposit by the end of the week.

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Susan Dell told parents and grandparents, “We believe in you, and we want you to dream big because we know you can make your dreams come true. So parents and grandparents, please claim your child’s account. These accounts are ready. They’re waiting for you, and they have money in them.”

The accounts were established under last year’s legislation and function as restricted IRAs; withdrawals are generally barred until age 18, and annual contribution limits apply, though the one-time government seed payment for certain holders does not count against those limits.

More than 70 companies, including Uber, Intel, Nvidia, and Steak n’ Shake, have agreed to make employer contributions for employees’ children.

Parents can claim and manage the accounts through an official app or a web portal.