Trump Accounts

Date

Jul 4, 2025

Scope

Federal

Status

Enacted

Source

irs.gov ↗

What it is

Federal children's savings accounts, IRC section 530A

Who did it

Congress; signed into law in the One Big Beautiful Bill Act

Detail

Proposed first as 'Invest America', then as 'MAGA accounts', and renamed 'Trump Accounts' in the enacted law. Each eligible child receives a $1,000 federal seed deposit, making this the president's name attached to a benefit held by millions of people.