IN GOP: Invest in Your Child’s Future with Trump Accounts

STATEWIDE — Some Indiana House members are reminding Hoosiers about Trump Accounts.

Eligible children can receive up to $1,500 in investment through Trump Accounts. The federally sponsored, child-focused investment accounts function like custodial IRAs for long-term wealth building.

Through the federal Working Families Tax Cuts Act, American children born between Jan. 1, 2025 and Dec. 31, 2028 who enroll in Trump accounts will receive $1,000 in index funds from the U.S. Treasury to begin the investment. Once a child turns 18, they can use the money for a multitude of things, including college expenses, career readiness or even a down payment on a house.

Republican state representative J.D. Prescott of Union City called opening a Trump Account for eligible kids “a no-brainer.”

“This is about giving every child a strong financial foundation from day one,” said Prescott. “With a $1,000 investment to get them started, families have an opportunity to build long-term savings that can help support education, homeownership or other important milestones later in life.”

State Rep. Cindy Ledbetter, a Republican from Newburgh, said that older children are eligible for accounts as well, and some can still receive private charitable deposits. Thanks to an additional contribution from Michael and Susan Dell, the first 25 million American children 10 and younger living in zip codes with median incomes below $150,000 will receive another $250.

“These accounts let money grow over time, kickstarting your child’s financial future without them needing to do anything,” said Ledbetter. “This is a great opportunity to build a safety net for your kids’ future, which can reduce their need for high-interest student loans or debt.”

Over six million children in the U.S. have already enrolled in Trump Accounts. Brad Gerstner, CEO of Altimeter Capital, pledged to invest an additional $250 into Trump Accounts for all Hoosier kids under five years old.

$5,000 can be contributed to the accounts annually, though no annual contribution is required, and the fund will continue to grow on its own. Families can open accounts by visiting trumpacccounts.gov or downloading the Trump Accounts app.