Treasury Secretary Scott Bessent praised President Donald Trump’s “Trump Accounts” initiative during an interview Wednesday. He called the program a transformative effort to bring millions of American families into the nation’s investment economy.
Bessent noted that roughly 38% of Americans currently have no exposure to equity markets, contributing to economic disillusionment among younger generations. Under the Trump Accounts initiative, every child born during a four-year period would receive $1,000 deposited into a market index fund. The funds would be inaccessible until the child turns 18, with the option to roll the account into a retirement vehicle and withdraw at age 65 as a supplement to Social Security.
Bessent said the administration views the program as a way to ensure the next generation participates directly in America’s innovation-driven economy. “President Trump, through this visionary plan, is going to change it,” he said.
Trump accounts were established in the multi-trillion-dollar tax and spending bill signed by the president in July. Under the plan, the federal government will contribute $1,000 to accounts set up for every American baby born in 2025, 2026, 2027 and 2028.
“Under this program, the U.S. Government will automatically create a tax-free investment account for every newborn American child,” Trump said.