Treasury Completes Automatic Enrollment for 70 Million Trump Accounts

The United States Treasury Department has completed the automatic enrollment of nearly 70 million eligible children into Trump Accounts, which are tax-advantaged investment vehicles designed to build long-term wealth. Donald Trump announced the completion of the process, noting that every eligible minor child in America is now enrolled. While the accounts are created for almost every child under 18 with a Social Security number, parents or guardians must use a dedicated app to claim the accounts and manage funds.

The government provides a $1,000 seed deposit specifically for U.S. citizen children born between January 1, 2025, and December 31, 2028. Since the program launched on July 4, more than $4.5 billion has been deposited. This total includes $1.3 billion in government seed funds, $2.6 billion in philanthropic gifts, and $600 million from private individuals.

Significant private contributions include a $6.25 billion pledge from Michael and Susan Dell to provide $250 to up to 25 million children in low-income ZIP codes, as well as stock donations from SpaceX president Gwynne Shotwell. Treasury Secretary Scott Bessent stated that accepting publicly traded stock creates a practical pathway for large-scale private giving. Despite these contributions, critics argue the program's primary benefits will favor wealthier families who can afford maximum annual contributions.