Trump Accounts launch with $1,000 baby bonds as US marks 250th Independence Day

Launch and eligibility

The Trump administration launched Trump Accounts on Saturday, July 4, 2026, coinciding with the 250th anniversary of US independence. The program, created by the One Big Beautiful Bill Act, provides a $1,000 government-funded investment account for every US citizen born between January 1, 2025, and December 31, 2028. Families can open accounts for any child under 18 with a Social Security number, but only those born during Trump's second term receive the federal seed deposit. More than 6 million accounts have been requested ahead of the launch, with 1.4 million eligible for the $1,000, according to senior Treasury officials.

The $1,000 federal contribution at birth helps remove the barrier of having nothing to start with, which has historically been one of the biggest obstacles to saving.

Corporate and philanthropic backing

Over 50 companies have pledged support, including Visa, Dell, Comcast, and Micron, which committed $250 million earlier this week. Billionaire Michael Dell and his wife Susan donated $6.25 billion last year to provide an extra $250 to 25 million children under 10 in low-income areas. Hedge fund manager Ray Dalio and his wife Barbara funded accounts for about 300,000 children in lower-income parts of Connecticut. The Treasury said 86 percent of signups so far come from families earning less than $200,000 annually.

Investment details and administration

Accounts are managed through an app developed by Robinhood and Bank of New York Mellon. Contributions are automatically invested in SPYM, a low-cost S&P 500 ETF managed by State Street, with funds from BlackRock and Vanguard to be added later. Parents control the account until the child turns 18, after which funds can be used tax-free for college, a first home, or starting a business, or left to grow until retirement. The program is expected to cost $17 billion through 2028, according to the Committee for a Responsible Federal Budget.

Political and economic context

Republicans hope the accounts will boost their standing ahead of November's midterm elections, where cost-of-living concerns have given Democrats an edge. Oil prices have fallen after a provisional peace deal in the Iran war eased inflationary pressure, and a housing bill is nearing passage. Still, the accounts' long-term impact on wealth inequality remains debated, with some tax experts warning they could widen the gap.

Currency redesign

Separately, the Treasury introduced dollar bills featuring President Trump's signature to commemorate the 250th birthday. Treasury Secretary Scott Bessent reposted an image of a $100 bill with the new design on social media.