Trump Accounts: New Federal Program for Babies
Update: 2025-12-14
Description
The One Big Beautiful Bill federal program, akin to state proposals, offers a financial boost for children, with a $1,000 deposit into a Trump Account for babies born between 2025-2028. Parents, states, and charities can contribute, with funds growing until the child turns 18. Estimates suggest an account could reach $18,100 by age 28. Republican Representative Michael Baumgartner praised the program, believing it will encourage long-term savings and provide retirement peace of mind. Businessman Michael Dell donated $6.25 billion, adding $250 to accounts of the first 25 million children in low-income zip codes. Spokane County zip codes qualify, potentially benefiting many local children. The program is an additive benefit to Social Security, not a privatization attempt.
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