The Treasury Department has created Trump Accounts for every eligible child, automatically enrolling more than 60 million children. This expansion adds to the approximately seven million children whose parents opted in since the program launched in July 2026. The expansion includes changes to the program's structure. Donors can now contribute individual stocks to the accounts, which families cannot choose or reject and must hold for five years. Direct donations can also be made to specific groups of children based on location or age.
Amna Nawaz discussed these developments with Wall Street Journal reporter Richard Rubin. He noted that the auto-enrollment feature makes the program a universal savings account for children with Social Security numbers, reaching families who may not have signed up previously.
Rubin explained that the original plan was for funds to be invested in low-cost index funds, while parent and employer contributions still follow this guideline. However, the new rules allow donors to contribute individual stocks, which the Treasury Department hopes will encourage more donations, particularly from wealthy individuals.
The Treasury Department has indicated that automatic enrollment could benefit lower-income households, as they may be less aware of financial products like these accounts. Rubin mentioned that both progressive and conservative lawmakers support auto-enrollment, viewing it as a means to expand access and promote financial literacy.
Concerns have been raised about the implications of mandatory stock donations, particularly regarding potential conflicts of interest and the lack of opt-out options. Rubin highlighted scenarios where companies might leverage stock ownership in children’s accounts for political or regulatory influence.
Since the launch of Trump Accounts and the recent enrollment expansion, approximately seven million children have been signed up. Rubin noted that while the numbers are relatively high among newborns, there may be hesitance among some families to participate, partly due to the program's association with the former president.
Legal challenges to the new rules remain uncertain, as challenging tax rules can be complex. Opponents would need to demonstrate harm resulting from the donations, which are intended to facilitate wealth building for participating families.