Bessent says 'Trump Accounts' could emerge as Trump’s most enduring policy legacy

WASHINGTON, DC: Treasury Secretary Scott Bessent praised Trump Accounts on Wednesday, calling the program one of President Donald Trump’s most “enduring legacy” initiatives. Designed to give children a $1,000 deposit in a diversified index fund at birth, the program aims to teach financial literacy while expanding participation in the stock market.

Speaking backstage at a summit after Trump’s address, Bessent described the initiative as “transformative” in bringing millions of American families into the nation’s investment economy. He emphasized that, alongside tax cuts, trade deals, and deregulation, Trump Accounts could be one of the president’s longest-lasting policies.

Scott Bessent on Trump Accounts and families 

Bessent noted that nearly 38% of US households currently lack exposure to equities, leaving many younger Americans disconnected from potential wealth-building opportunities. “Thanks to Trump Accounts, the next generation will experience a real-time financial lesson, holding a stake in our nation’s economic growth,” Bessent said.

Under the program, children born between January 1, 2025, and December 31, 2028, automatically receive $1,000 in a market index fund. Families may contribute up to $5,000 annually, and employers can add up to $2,500. Accounts remain locked until the child turns 18, ensuring long-term growth and savings discipline.

Trump Accounts in Trump’s economic agenda

Bessent framed Trump Accounts as part of Trump’s broader second-term agenda. “The president has done trade deals, tax deals, peace deals,” he said. “I think there’s a chance these Trump Accounts may be his most enduring legacy.”

The initiative has drawn significant early interest. According to Bessent, more than 600,000 families have signed up on TrumpAccounts.gov, with expectations of reaching 25 million participants nationwide. He also highlighted that roughly 20 states plan to adopt similar programs, pairing account access with financial education.

“This program is about ensuring every child can participate in America’s innovation-driven economy,” Bessent added. “We set the table in 2025; now we’re preparing for the feast."

Trump Accounts and long-term growth

Bessent encouraged families to open accounts promptly, highlighting the potential long-term benefits. He stressed that the program aligns with Trump’s vision to broaden market participation and create generational wealth opportunities for all Americans.

By combining financial literacy with early investment, Trump Accounts aim to make long-term equity participation accessible to millions of American children, marking a notable addition to the president’s economic legacy.