$1,000 Trump accounts to start July 4

by Andrew Rice, The Center Square, Jan 28, 2026

(The Center Square) — "Trump accounts" will launch beginning July 4, President Donald Trump announced Wednesday.

The "Trump account" initiative was included in the "Big Beautiful Bill" signed into law in July 2025. It provides a $1,000 contribution from the U.S. Treasury Department to a tax-free account for babies born between Jan. 1, 2025, and Dec. 31, 2028.

"A seed contribution of $1,000 which will compound and grow over the course of their lives and could grow into very, very substantial numbers," Trump said. 

Parents can deposit up to $5,000 per year into the tax-free accounts. Employers can deposit up to $2,500 for the parents of children with Trump accounts. 

Bank of America and JPMorgan announced they will match $1,000 deposits for eligible employees with children enrolled in Trump Accounts. 

White House estimates indicate the initial amount could grow to $5,800 by the time a child turns 18 or $18,100 by 28. With maximum contributions, the account could accrue up to $1 million by age 28. 

Some economists have criticized the Trump administration's initiative for supposed short-sighted funding goals. Critics argued the accounts propose figures that are too small and will not meaningfully lift people out of poverty. 

"The size and scale of this wealth will dwarf all government programs ever created to benefit America's youth," Trump said.

"Under this administration, we're going to leave every child with real assets and a shot at financial freedom," Trump said. "We'll ensure that Americans don't just end their lives with a nest egg, but instead all Americans will begin their lives with a beautiful nest egg."