President Donald Trump has signed the One Big Beautiful Bill Act, giving every U.S.-born baby a $1,000 "Trump Account."
These accounts are created by the federal government for children under 18 to help kick-start their financial future.
"This will afford a generation of children the chance to experience the miracle of compounded growth," the White House said.
Babies born between Jan. 1, 2025, and Dec. 31, 2028, are eligible for the one-time government deposit.
Parents, relatives, and even employers can contribute up to $5,000 a year into the account until the child turns 18. That amount may increase with inflation after 2027.
The funds must be invested in low-cost stock mutual funds or ETFs like the S&P 500. Children gain full access at age 18.
Each child must have a Social Security number, and only one account is allowed per child.
Trump signed the bill on July 4. It also makes his 2017 tax cuts permanent and introduces new deductions for tips and overtime pay. “This bill will fuel massive economic growth,” Trump said.