WASHINGTON —

The Trump administration is rolling out a new tax-advantaged savings account, called "Trump Accounts," to help American kids get ahead.

Certain newborns are eligible for an initial $1,000 deposit from the federal government, but there are several other avenues to build up the account. The program received a major boost on Tuesday because of a private donation. Advertisement

The program was signed into law this summer as part of President Donald Trump's "One Big Beautiful Bill."

"Trump Accounts" are available to any child under 18 who is a U.S. citizen with a valid Social Security number. However, only children born between Jan. 1, 2025, and Dec. 31, 2028, are eligible for the one-time $1,000 contribution from the U.S. Treasury Department.

Children, parents, family memb

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