Trump Accounts now cover all children under 18, with 70 million enrolled

Summarised from 2 outlets · Updated 8 Oct, 23:37 · Archive

President Trump announced automatic enrollment of all children under 18 in Trump Accounts, his youth savings programme.

President Trump announced automatic enrollment of all children under 18 into Trump Accounts, his signature savings accounts for youth. The programme has reached 70 million accounts since launching in July, with over $4.5 billion deposited into the accounts so far.

Tech billionaires Michael and Susan Dell met with Trump in the Oval Office to announce their pledge to fund accounts for 25 million children, each receiving $250. Michael Dell said the funds would be distributed by the end of the week. Susan Dell said the contribution was about more than money. "It's knowing that someone believes in you, in your future," she said.

Trump praised the Dells and said several other major companies have made similar commitments. "Some of the biggest companies in America are giving hundreds of millions of dollars," he said, including Uber, Intel, Nvidia and Steak n' Shake, and called on other businesses to join the initiative.

Automatic enrollment does not automatically grant children the government's $1,000 seed contribution, and parents must claim accounts to control them and access financial benefits.

How it is being reported

• Enrollment in Trump Accounts program tops 70 millionThe Trump administration is touting 70 million children enrolled in long-term investment accounts dubbed Trump Accounts. David Zervos, counselor to the Treasury secretary, joins "The Takeout" to discuss how the program works and more.CBS News · 8 Oct, 23:08
• Trump celebrates all kids under 18 having a Trump Account — but parents must claim it for financial benefitsPresident Trump announced the completion of automatic enrollment for all children under the age of 18 into a Trump Account, his signature savings accounts for youth. “Since launching in July, nearly 8 million accounts have been created in three months,” the president said. “With today’s announcement, we’re building on that success by 70 million accounts...New York Post · 7 Oct, 18:47

In this story: Trump · Michael Dell · Susan Dell · Uber · Intel · Nvidia

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