By Jeff Mordock (The Washington Times)
Trump Accounts, the government-funded investment vehicle for children born during President Trump’s second term, will launch on Saturday, July Fourth, as the administration links the nation’s 250th anniversary to financial independence.
Ahead of the expected launch date, semiconductor company Micron announced it would invest $250 million into the accounts.
The Boise, Idaho-based chip giant said the $250 million investment would come through an employee matching program in which it planned to match contributions of up to $1,000 per child under 18 for its workers.
In addition, the company announced it will make a one-time $250 deposit into accounts for children in counties where it has locations, including Idaho, New York, Virginia, California, Colorado, Minnesota and Texas. Micron said the investments will benefit roughly 1 million children.
“This incredible gesture, made by Micron’s fantastic CEO Sanjay Mehrotra, will make many children extremely happy someday in the not too distant future,” Mr. Trump wrote Wednesday on Truth Social.
Created under last year’s One Big Beautiful Bill Act, Trump Accounts are designed to help children under 18 build savings, similar to how adults save in individual retirement accounts.
The new accounts launch on the one-year anniversary of Mr. Trump signing the One Big Beautiful Bill Act into law.
Under the program, parents can open an investment account for any child born between Jan. 1, 2025, and Dec. 31, 2028 — near the end of Mr. Trump’s second term.
The accounts will be seeded with a $1,000 contribution from the Treasury Department that will be invested in the stock market.
The money in the account, which can include deposits by parents, employers, relatives and philanthropies, will be invested in the stock market by private investment firms. Children can’t access the money until they turn 18, and even then withdrawals are limited for specific purposes like buying a home or paying tuition.
Billionaires have already boosted the accounts beyond the initial $1,000 government deposit. Last year, Michael Dell, the founder and CEO of Dell Technologies, and his wife, Susan, announced they will donate $6.25 billion to fund Trump Accounts, one of the largest philanthropic donations ever to go directly to Americans.
The Dells will give 25 million American children $250 each to jumpstart their investment accounts.
Questions still remain about how the accounts will be funded. The federal government will contribute $1,000 to each account. That will cost taxpayers roughly $3.6 billion a year, based on the 3.6 million U.S. births in 2024, a 1% increase from 2023, according to data by the Centers for Disease Control and Prevention.
Mr. Trump has disputed this, however, saying the money will come from initiatives in the One Big Beautiful Bill, including a 3.5% remittance tax on money sent abroad.
This article was made available to WMAL via The Washington Times.
