All articles tagged with #trump accounts
The Trump Accounts program will deposit $1,000 for each newborn American citizen, and many companies have pledged to match that amount for employees' children (up to $2,500 per year), with some offering extra incentives such as IBM’s additional $1,000 if $4,000 is invested within 24 months; announcements from December through February cover banks, tech, and other sectors.
A 2025 law seeds $1,000 to launch Trump Accounts for babies born 2025–2028, with accounts opening around July 4 and sign-up via IRS Form 4547. Parents can contribute up to $5,000 per year (employers up to $2,500), and a philanthropic gift program (e.g., Michael Dell’s pledge) adds funds. Older children can have accounts but won’t receive seed money. Growth depends on stock-market performance, inflation, and additional deposits, so the seed money alone is unlikely to cover college costs or a down payment. The ad’s “free money” claim oversimplifies many eligibility rules and future uncertainties.
A Super Bowl ad from Invest America promotes 'Trump Accounts,' government seed money for children born in 2025–2028 with a $1,000 initial deposit and up to $5,000 in annual contributions; accounts track stock market growth and can include employer contributions, with the program launching around July 2025. Experts warn the seed money alone is unlikely to cover college or a down payment, and results depend heavily on market performance.
After criticism that its Trump Accounts projections didn’t add up, the White House updated its numbers: initially, investing $0 per year supposedly yielded $200,000 by age 55 while $250 per year would yield only $192,000; following reporting from The Daily Beast, the site now shows $243,000 for no-money and $878,000 for $250/year, with $5,000/year potentially hitting $13 million over 55 years, all claimed to be based on historical S&P 500 averages. Critics say the math remains unclear and inconsistent with other government materials, underscoring broad skepticism about the program’s promised returns. The piece also notes high-profile promotion of the policy, including Nicki Minaj’s involvement at the Trump Accounts event.
Multimillionaire Scott Bessent argued on Fox News that families should donate to Trump Accounts rather than buy toys for children, a pitch that drew online backlash and raised questions about feasibility and how the plan would work alongside a cost‑of‑living reality.
Rapper Nicki Minaj, at the Trump Accounts Summit in Washington, DC, clasped hands with Donald Trump, proclaimed herself ‘probably the president’s No. 1 fan,’ and said she will donate between $150,000 and $300,000 to fund fans’ Trump Accounts as she defends him against critics; the event coincided with a White House post highlighting the alliance.
Rapper Nicki Minaj publicly endorses Donald Trump at a Washington event, posting a photo of a “Trump Gold Card” that promises U.S. residency for a $1 million contribution (plus a $15,000 processing fee). She also pledged to donate between $150,000 and $300,000 to Trump Accounts, a new tax-free growth investment program for minors that can be used for education, home buying, starting a business, or retirement. The move signals a notable shift from her earlier skepticism toward Trump, amid ongoing debates about her influence and the president’s campaign.
Bank of America and JPMorgan Chase will match the government's $1,000 seed for Trump Accounts for eligible newborns born 2025–2028, joining a broader corporate push to support the White House savings plan. Other firms, including Intel and Visa, have pledged support as well. Employers can contribute up to $2,500 per year (counting toward a $5,000 annual limit per child), with employees able to make pre‑tax contributions. The accounts begin July 4, and withdrawals are typically restricted until the child turns 18.
Major employers will match the Treasury’s $1,000 contribution for newborns’ government-created investment accounts as part of the One Big Beautiful Bill, signaling a closer alliance between the White House and corporate America.
JPMorgan Chase and Bank of America will match the government's $1,000 Trump Accounts contribution for their employees' newborns, joining other firms in supporting Treasury-funded accounts for children born 2025–2028; the program starts July 4, 2026, and Bank of America will offer pretax payroll deductions for eligible employees.
Rapper Nicki Minaj publicly backed Donald Trump at a Washington, D.C. “Trump Accounts Summit,” clasping his hand and saying she’s “probably the president’s No.1 fan” while vowing to resist smear campaigns; she also announced she will contribute between $150,000 and $300,000 to fund fans’ Trump Accounts, amid ongoing fan division over her political support.
Rapper Nicki Minaj pledges between $150,000 and $300,000 to fund her fans’ Trump accounts as she attends a White House summit promoting Trump accounts, a child-focused, tax-advantaged savings program that starts with a $1,000 seed deposit for eligible children born 2025–2028. A growing list of companies will match the federal contribution, and other philanthropists are contributing as part of a broader push; about 600,000 families have already signed up.
JPMorgan Chase and Bank of America will match the U.S. government's one-time $1,000 contribution to new children’s retirement savings accounts created under a pilot program aimed at narrowing the wealth gap; other large firms like BlackRock, BNY, Robinhood, SoFi and Charles Schwab have also announced similar commitments.
Nicki Minaj will attend a Treasury Department summit to promote Trump Accounts, a new tax-free investment account for children under 18; enrollment is voluntary and seed-money promises are part of the administration’s MAGA push, with a star-studded launch including Trump, Scott Bessent, and Cheryl Hines.
Nicki Minaj will join Donald Trump at a Washington, DC presidential summit at the Mellon Auditorium to promote the Trump Accounts personal retirement savings program, sharing the stage with speakers including Ted Cruz, Karoline Leavitt, Cheryl Hines and Kevin O’Leary; Minaj described the event as paying it forward via early financial literacy, continuing her MAGA-aligned advocacy amid prior controversies.