05.28.26

Trump Accounts App Launches

by: Riley Beggin

The Trump administration has launched a mobile app to manage new federally backed “Trump accounts,” investment accounts for children that will receive a one-time $1,000 government contribution beginning July 4. Nearly 6 million eligible children have already been enrolled under the program created through last year’s tax-and-spending law. Children born between 2025 and 2028 qualify for the federal seed money, while older minors can still open accounts without receiving the contribution. Parents and other adults can contribute up to $5,000 annually, and employers, nonprofits and governments may also add funds. Built by BNY and Robinhood, the app also includes financial literacy tools for families.

Read the full article on The Washington Post