Newborns to Get $1,000 ‘Trump Accounts’—Here’s How It Works

‘It’s a pro-family initiative that will help millions of Americans harness the strength of our economy,’ Trump said.

A child holds up an American flag as Republican presidential candidate former President Donald Trump speaks during a campaign rally at Saginaw Valley State University in Saginaw, Mich., on Oct. 3, 2024. Jim Watson/AFP via Getty Images

The Republican reconciliation package, better known as the One Big Beautiful Bill, introduced Trump Accounts for newborns, which were previously dubbed MAGA Accounts, or “Money Account for Growth and Advancement.”

The accounts are new tax-advantaged investment vehicles comparable to individual retirement accounts, prefunded with $1,000 from the Treasury Department for every child born between Jan. 1, 2025, and Dec. 31, 2028. Children born before this year will also be eligible, but not for the initial $1,000 seed money.