President Donald Trump is set to announce a new savings initiative for children, branded as “Trump accounts,” at 2 p.m. ET on Tuesday. The program is designed to help American children start building financial assets from an early age.
Michael Dell, CEO and founder of Dell Technologies, is expected at the White House on Tuesday to discuss a $6.25 billion contribution he and his wife, Susan, are making to support the accounts, according to USA Today.
Why It Matters
This philanthropy-backed effort is poised to become one of the largest federal initiatives focused on children’s financial futures. If implemented as planned, it could give millions of young Americans a meaningful starting point for long-term savings and investment.
What To Know
“The president will make an announcement in the Oval Office on his initiative to create Trump accounts to give the next generation of Americans a jump start on savings,” White House Press Secretary Karoline Leavitt said during a press briefing on Monday.
“It will be a very exciting announcement indeed, especially for all of the parents across the country with young children and babies.”
The Trump accounts were authorized under this year’s One Big Beautiful Bill Act. They can be opened for any child under 18 who has a Social Security number.
For children born between 2025 and 2028, the federal government will deposit an initial $1,000 into each account.
The accounts will be limited to investments in low-cost, diversified U.S. stock index funds. Similar to an Individual Retirement Account (IRA), the funds will generally be locked in until the child turns 18, at which point withdrawals are permitted.
The Dells’ $6.25 billion pledge will provide an additional $250 each to roughly 25 million children under age 10 who were born before the eligibility window for the federal seed grant.
According to the White House schedule, Trump’s announcement is set for 2 p.m. in the Roosevelt Room, with the presidential press pool present. The event will follow an 11:30 a.m. cabinet meeting.
What People Are Saying
Michael Dell told CNBC that the accounts are intended to give families an early sense of financial security and a reason to keep saving over time.
“It’s designed to help families feel supported from the start and encourage them to keep saving as their children grow,” he said, noting that “we know that when children have accounts like this, they’re much more likely to graduate from high school, from college, buy a home, start a business and less likely to be incarcerated.”
White House spokesman Kush Desai told USA Today in a statement: “The One Big Beautiful Bill’s Trump Accounts are a revolutionary investment by the federal government into the next generation of American children.”
“It’s also President Trump’s call to action for American businesses and philanthropists to do their part, too. Michael and Susan Dell’s $6 billion investment into America’s children is the first of many announcements to come for America’s children.”
What Happens Next
Trump is scheduled to formally introduce the Trump accounts at 2 p.m. on Tuesday.
Parents are expected to be able to begin opening and contributing to these accounts starting in mid-2026, according to the New York Times.
