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President Donald Trump and his administration announced that, starting Oct. 1, the Treasury Department automatically enrolled an additional 60 million American children under age 18 into the administration’s signature “Trump Accounts,” bringing total enrollment to 70 million, the White House said. The administration described the move as a way to expand participation and give more children what officials called a head start toward future financial security.
In a statement quoted by the White House, spokeswoman Taylor Rogers said, “With automatic enrollment now complete, every American child under the age of 18 has a Trump Account in their name, making it easier than ever for families to participate.” The administration said 10 million children had already been enrolled after parents opted in when the accounts were officially launched on July 4.
Money already in the program and initial seed contributions
According to the administration, the Treasury has deposited $2.2 billion into the accounts since the July rollout. The Treasury pledged a one-time $1,000 “seed” contribution for each child born between Jan. 1, 2025, and Dec. 31, 2028; children born outside that range do not receive the federal seed contribution but may receive deposits from family, acquaintances, corporations or philanthropists, the administration said. The account rollout has drawn large private donations, the administration said, including a $6.25 billion contribution from Michael and Susan Dell and donations from corporations such as Uber and Nvidia.
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Trump, flanked during the announcement by Treasury Secretary Scott Bessent, Economic Council Director Kevin Hassett and the Dells, predicted the accounts would grow substantially, saying: “So if all goes well, which I think it will, they’ll end up being quite rich by the time they’re 18 and then 21.”
Treasury rationale and mechanics
In a notice published in the Federal Register, the Treasury said automatic enrollment is intended to maximize children’s participation and estimated the policy would allow an additional 2 million children to benefit each year. The notice included the line, “An eligible individual should not lose the opportunity to receive contributions or investment growth merely because no adult completed an election,” language cited by the administration to justify auto-enrollment.
Under the program as described by the administration, parents are no longer required to opt in as of Oct. 1 but can claim their children’s accounts through the Trump Accounts app. Each child gains access to the account in their own name at age 18; the Treasury said funds may be allocated only for specified purposes, including paying for university tuition or purchasing a house.
Political and policy reactions
The rollout drew reactions from across the political spectrum. Some Democrats praised the program: Maryland Gov. Wes Moore called it a “smart policy,” and California Gov. Gavin Newsom said it was “one of the best things [Trump] has done,” according to the administration’s account of responses. Democratic Sen. Cory Booker of New Jersey and Democratic Rep. Ayanna Pressley of Massachusetts had introduced a similar proposal in 2023 to put $1,000 at birth into an account accessible at age 18, but that proposal did not advance out of committee; Booker voiced support for Trump’s initiative, the article said.
When he unveiled the plan in January, Trump said a number of major U.S. companies had pledged to match the federal government’s initial contribution for eligible employees’ children, naming Charles Schwab, Robinhood, SoFi, Uber, Charter Communications and BNY among those that had promised matches and other contributions.
The administration framed the program as a long-term investment in the next generation’s financial security. Details about implementation, ongoing private-sector commitments and how accounts will be managed and regulated were described in the Treasury notice and in administration statements accompanying the rollout.
