60 Million Kids Auto-Enrolled in Trump Accounts: What Parents Should Know
“There’s no essentially guaranteed other money for lower income kids,” she says. “In a structure that was aiming to reduce inequality, you would see additional annual contributions for lowest income kids, ideally from the federal government.”
Who’s eligible to get a Trump Account, and to receive seed deposits?
All American children who are under the age of 18 and have a valid Social Security number are eligible for a Trump Account. With the automatic enrollments announced by Trump on Wednesday, the White House says every eligible child in the U.S. should now have an account.
Certain kids are also eligible to receive funds in their Trump Accounts from the federal government or Michael and Susan Dell.
Once accounts are opened for children born between Jan. 1, 2025, and Dec. 31, 2028, they will automatically be seeded with a one-time, tax-free government payment of $1,000.
Due to an additional $6.25 billion investment from the philanthropists Michael and Susan Dell, children born from 2016 through 2024 who live in zip codes where the median family income is at or below $118,000 will also receive a $250 deposit into their Trump Accounts once they’re activated. Children living on military bases also qualify for the deposits.
