A newly approved US measure will provide $1,000 for certain newborns, after the bill was passed.
The program applies to babies born between January 1 2025 and December 1 2028, who will qualify for a $1,000 benefit.
Those dates also overlap with the years of Trump’s second term in the White House, which is set to conclude in January 2029 following the inauguration of the winner of the 2028 election.
Following its passage, the initiative is scheduled to begin on July 4 this year, coinciding with Independence Day.
It was included in Trump’s “big, beautiful bill”.
“This is a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation. And they’ll really be getting a big jump on life.”
Funds will be deposited into a ‘Trump Account’ opened in the child’s name, designed to track the overall stock market.
Parents will also be able to contribute additional money to the account if they choose.
For eligible children, families can create the account while completing their taxes.
The account setup is tied to IRS form 4547 — a number referencing Trump serving as both the 45th and 47th president.
Alternatively, an online option will be available for setting up the account.
TrumpAccounts.gov
After submitting the details, applicants will be notified when it’s time to activate the account.
The $1,000 contribution is invested from the US Treasury into an index fund.
Because each Trump Account is linked to the US stock market, its value will rise or fall depending on market performance.
The Treasury-funded $1,000 is limited to newborns who meet the eligibility window.
Parents can also deposit up to $5,000 per year into the account from their own funds.
Once created, the account remains locked until the child turns 18.
When the child reaches 18, the money becomes accessible, though it doesn’t have to be withdrawn immediately.
Americans for Tax Reform says around 50 companies are participating in the accounts.
They shared the following list:
Acorns
Anand Legacy Foundation
Bank of America
Bank of New York Mellon
BlackRock
Block, Inc.
Broadcom
Brownstein Hyatt Farber Schreck
Charles Schwab Corporation
Charter Communications
Chime Financial Inc.
Chipotle
Citi
Coinbase
Comcast
Continental Resources
CTIA
Dalio Philanthropies – Ray and Barbara Dalio
Dell Technologies
Delta Airlines
Empower
Fox Corporation
Galaxy Digital Inc.
Harold Hamm
Heritage Foundation
IBM
Intel
Invesco
Invest America — Brad Gerstner (Trump Accounts inventor)