Trump Treasury Holding Key Summit

The U.S. Treasury Department will host a major summit Wednesday as the federal government moves closer to launching a new savings initiative known as “Trump accounts,” a program aimed at helping American children begin building long-term financial security from birth.

The upcoming event is expected to bring together a mix of administration officials, lawmakers, and public figures, including White House press secretary Karoline Leavitt, entertainer Nicki Minaj, Sen. Ted Cruz, Rep. Jason Smith, and actress Cheryl Hines.

According to the Treasury Department, the summit represents an important milestone in the administration’s broader effort to strengthen long-term financial stability, expand access to investment opportunities, and encourage economic independence for American families.

Administration to Outline Next Steps

Officials say the summit will also be used to outline the next phase of the program, including implementation details and plans for public outreach. The initiative is being positioned as part of a larger strategy to promote personal ownership, savings, and financial literacy across generations.

Under the proposed plan, U.S.-born children with a valid Social Security number who are born between January 1, 2025, and December 31, 2028, would automatically receive a government-backed investment account.

Each eligible child would receive a one-time $1,000 contribution from the Treasury Department. The account would be invested in the stock market and structured to grow over time in a manner similar to traditional retirement savings accounts, according to federal guidance.

Parents Can Add Funds Over Time

Parents or legal guardians would be allowed to begin contributing to the accounts starting July 4, 2026, with annual contributions capped at $5,000. The goal, officials say, is to allow families to gradually build meaningful savings that can support education, homeownership, or retirement later in life.

Treasury Secretary Scott Bessent has previously described the program as a way to give every American child a direct stake in the nation’s economy. Speaking during a December appearance on Face the Nation, Bessent said the accounts function much like a long-term trust, with options to access funds at adulthood or continue growing them for retirement.

Focus on Financial Literacy

Bessent also noted that the program is expected to bring millions of new participants into the investment system, alongside a strong emphasis on financial education. The administration says teaching young Americans how markets work, what ownership means, and how long-term investing builds wealth is a key part of the initiative.

Supporters argue that the plan reflects a broader effort to restore a culture of saving, personal responsibility, and economic opportunity—values long championed by conservatives and older Americans alike.