All posts tagged: ChildSavings

What’s Behind the New Trump Child-Savings Accounts

What’s Behind the New Trump Child-Savings Accounts

This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here. Earlier this year, Nicki Minaj asked her fans to “go out there and make some babies.” Sitting onstage at a D.C. auditorium, the rapper and recent MAGA convert wasn’t just talking about the wonders of parenthood—she was plugging President Trump’s new child-savings accounts. The 530A accounts, better known by their other official name, Trump Accounts, are set to launch on July 4. Much like existing child-savings accounts, these are essentially tax-advantaged investment vehicles. During tax season, any parents of kids up to 18 years old can open a Trump Account on behalf of their child, regardless of their income level; if the child was born in the years 2025 to 2028, they can also receive $1,000 in their account automatically, straight from the federal government. The money can be invested only in American companies, and parents are the account’s …