Wednesday and Thursday, 2026-09-30 and 2026-10-01 · · run 20261002T0224Z
Trump Accounts To Auto-Enroll Children
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The Treasury Department and IRS will automatically enroll 73 million children in Trump Accounts by year's end, the House Ways and Means Committee announced Wednesday.
The new automatic enrollment procedures mean parents no longer have to file a form to get an account started.
Parents can then claim their child’s account and opt into a $1,000 seed investment.
The accounts can help fund a trade, a college education, a first home, or retirement by the time a child turns 18.
More than 100 companies, foundations, individuals, and states have announced contributions to the accounts.
Investments are managed together in one fund, and the trustee never sees a child’s personal tax records.
Charities and state and local governments can make donations to be split evenly among large groups of children.
Ways and Means Committee Chairman Jason Smith said Republicans fought to include the accounts in the Working Families Tax Cuts.
Smith added that a child’s future should not depend on whether a parent can find the right tax form or has the time to fill it out.
Sources
- Chairman Smith: Transformational Trump Accounts Will Now Reach Millions More Children House Ways and Means Committee
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