Trump announces 'historic' enrollment of 70 million children into Trump Accounts

President Donald Trump announced on Wednesday the historic enrollment of 70 million American children into his Trump Accounts, emphasizing this as a step towards ensuring every child has a fair shot at the American Dream. The administration reported that starting October 1, the Treasury Department automatically enrolled 60 million children under 18, in addition to the 10 million whose parents opted in following their release on July 4.

White House spokeswoman Taylor Rogers stated that every American child under 18 now has a Trump Account, making participation easier for families. Since the accounts' release on July 4, $2.2 billion has been deposited into them. The Treasury Department pledged a one-time $1,000 seed contribution for children born between January 1, 2025, and December 31, 2028.

Children outside this range can still receive contributions from family members and donors, such as corporations and philanthropists. Trump predicted that these children could end up being "quite rich" by the time they turn 18 and 21. The program's goal is to enhance future financial security for the youngest generation, with account access and funds allocated for designated purposes like university tuition or purchasing a home.

While some Democrats, including Maryland Governor Wes Moore and California Governor Gavin Newsom, praised the initiative, it faced criticism from others.