Trump accounts sign up 5 million kids, Bessent says

Trump accounts have signed up 5 million children, and 1.2 million are eligible for a $1,000 pilot program contribution, Treasury Secretary Scott Bessent said during CNBC’s Invest in America Forum on Wednesday.

Enacted via President Donald Trump’s “big beautiful bill,” the new tax-deferred investing accounts for children will officially launch on July 4.

While all U.S. children under age 18 with a Social Security number can open a Trump account, the $1,000 Treasury seed money is available to babies born between 2025 and 2028.

“The $1,000 is just the starting point,” Bessent said.

A growing number of companies have pledged to match the $1,000 Treasury deposit, and philanthropists in multiple states have committed to seed the accounts for qualifying families.