Families Await $1,000 Trump Accounts Amid Presidential Praise

WHO:

AP News - President Donald Trump

AP News - Masaki and Kristina McLellan, parents from Bergen County, New Jersey

AP News - U.S. Treasury Department

WHAT:

AP News - Trump Accounts offer $1,000 in seed money to every child born during Trump's second term.

AP News - The accounts went live on July 4.

AP News - The Treasury Department reports 6.5 million sign-ups for Trump Accounts, with 1.5 million eligible for the $1,000 seed funding.

AP News - The accounts can be opened for any child under the age of 18.

AP News - The program is designed to give more Americans a stake in the stock market.

WHERE:

AP News - Trump plans to speak at a Georgia high school to promote the investment accounts.

WHEN:

AP News - Trump plans to speak on Wednesday.

AP News - The accounts went live on July 4.

AP News - Masaki McLellan applied for the account on July 6.

WHY:

AP News - Trump claims the accounts could lift children out of poverty and help Americans invest in the stock market.

AP News - Supporters hope the program will counter the rising popularity of democratic socialists advocating for higher taxes on corporations and the wealthy.

HOW:

AP News - The money in Trump Accounts is invested in index funds by private firms.

AP News - Parents, relatives, friends, and employers can contribute to the accounts after they are set up.

AP News - The Treasury Department describes the lag in funding as “standard processing time, like receiving a tax refund.”

(UPDATED July 22, 2026 07:51 UTC)

President Trump has announced a new initiative called Trump Accounts, which offers $1,000 in seed money to every child born during his second term, with 6.5 million sign-ups reported by the U.S. Treasury Department, and 1.5 million of those eligible for the funding. The accounts, which went live on July 4, can be opened for any child under 18 and are designed to encourage investment in the stock market, with funds managed by private firms. Trump plans to promote this program at a Georgia high school on Wednesday, aiming to provide financial opportunities for children and counter the influence of democratic socialists advocating for higher taxes on corporations and the wealthy.