President Donald Trump speaks at the Trump accounts summit in Washington, DC, on Wednesday, January 28.
“President Trump’s Working Families Tax Cuts include a new revolutionary program – Trump Accounts – giving the future of America, a stake in America,” the Treasury Department stated in announcing the event. “Trump Accounts allows parents, guardians, or other custodians to establish a new type of tax-advantaged individual retirement account for their children.”
“Children born between January 1, 2025, and December 31, 2028, are eligible to receive $1,000 from Treasury as a pilot program contribution,” they explained. “In addition to the pilot program, parents can contribute up to $5,000/year, and employers up to $2,500/year.”
Read the full article here