The government just launched Trump Accounts. Here’s who gets the free $1K

Parents can now open a tax-advantaged savings account online, but only certain children qualify for the government’s $1,000 contribution.

[Source Images: Adobe Stock]

BY María José Gutiérrez Chávez

This weekend, the Trump administration is planning to roll out one of its most ambitious programs yet: Trump Accounts. Tied to America’s 250th birthday, the program is set to launch on July 4, giving around 1.5 million American babies $1,000 to help with their future financial independence. 

The program allows parents and legal guardians of children born during President Trump’s second term to open savings accounts, dubbed Trump Accounts, and receive $1,000 from the government. The accounts follow a 2025 federal tax law that........

© Fast Company