President Trump rang the opening bell for the New York Stock Exchange and the Nasdaq from the Oval Office on Monday to mark the launch of his administration's new savings accounts for children.
Known as "Trump Accounts," the tax-advantaged accounts are available to Americans age 18 or younger and include a one-time $1,000 Treasury Department deposit for eligible children born from Jan. 1, 2025, to Dec. 31, 2028.
Billionaires Michael and Susan Dell, who joined the president in the Oval Office, pledged more than $6 billion to the program.
Other wealthy individuals and companies have also announced donations or said they will match the government's $1,000 contribution for their employees' children.
Children are not enrolled automatically.
Parents must sign them up through their tax forms or when registering their newborn's Social Security number at the hospital.
About 1.4 million eligible children have enrolled so far, roughly one-quarter of those who qualify.
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