Tuesday, July 7, 2026 77°Today's Paper
Opens in a new tab500,000 children receive first $1,000 ‘Trump Account’ deposits
By Bo Erickson and Pritam Biswas / Reuters
July 6, 2026
EVAN VUCCI / REUTERS
President Donald Trump rings the opening bell for both the New York Stock Exchange and Nasdaq during an event to mark the launch of “Trump Accounts” in the Oval Office of the White House today.
WASHINGTON >> President Donald Trump said today that the government had deposited the first $1,000 into more than 500,000 “Trump Accounts,” a program designed to give newborn Americans a stake in the stock market and help build wealth from an early age.
Trump rang the opening bell from the White House Oval Office alongside executives of the New York Stock Exchange and Nasdaq. He said cooperation between the rival exchanges was something Democrats and Republicans had been unable to replicate.
CEO Adena Friedman and President Nelson Griggs from Nasdaq , Intercontinental Exchange CEO Jeffrey Sprecher, and President of NYSE Group Lynn Martin were present at the ringing of the bell.
The rising cost of living has become a major issue for voters heading into the November midterm elections.
Supporters say the Trump Accounts, designed for U.S. citizens born between 2025 and 2028, will encourage long-term investing and financial literacy, while critics argue families with limited disposable income may be unable to make additional contributions and benefit fully from the accounts.
The program adds a new savings vehicle to other tax-efficient college savings plans and retirement accounts.
Don't miss out on what's happening!
Stay in touch with breaking news, as it happens, conveniently in your email inbox. It's FREE!
EmailSign Up
By clicking to sign up, you agree to Star-Advertiser's and Google's Terms of Service Opens in a new tab and Privacy Policy Opens in a new tab. This form is protected by reCAPTCHA.
Contributions are automatically invested in a low-cost index fund designed for long-term growth. Account holders take control when they turn 18, at which point they can withdraw the funds or continue investing. Gains will be taxed upon withdrawal.
The plan provides children born without wealth with substantial financial assets, the president said, and advised against early withdrawal from the accounts in a booming market environment.
Several U.S. companies have pledged support for the program, with employer matches or additional seed funding.
Participating companies include payment giant Visa, technology company Dell, and media and telecom firm Comcast. Chipmaker Micron has pledged $250 million to support Trump Accounts.
“Trump Accounts are about making every child and every American a capitalist. Every one of our kids is now going to be an owner of the biggest producers in our country,” said Republican Sen. Ted Cruz of Texas, who took part in the launch.
59 Comments
By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.Having trouble with comments? Learn more here.
reCAPTCHA
Recaptcha requires verification.
protected by reCAPTCHA
reCAPTCHA is changing its terms of service. Take action.
Read Original at Honolulu Star-Advertiser →