Trump Highlights Newborn Savings Program Launch

President Donald Trump highlighted the launch of Trump Accounts, a new government-backed savings program for American newborns, during a speech at a Treasury Department summit in Washington, D.C., on Wednesday. The initiative, seeded with $1,000 from the U.S. Treasury for each eligible child, aims to provide a financial head start for future generations through tax-advantaged investments.

The program, enacted as part of the One Big Beautiful Bill Act earlier this year, targets children born in the United States between January 1, 2025, and December 31, 2028. To qualify, a child must have a valid Social Security number. Accounts will be established in the child's name, with parents or legal guardians serving as custodians until the child reaches age 18. The official launch is set for July 5, 2026, coinciding with the nation's 250th anniversary celebrations.

Trump spoke at the Andrew W. Mellon Auditorium, joined by Treasury Secretary Scott Bessent, corporate executives, and investors. He emphasized the program's potential to build wealth, stating, "We're going to put 3 to 4 trillion of wealth into the hands of young Americans who otherwise would have really started out with...