Karoline Leavitt announces plans to enroll daughter in 'Trump account', calls program 'incredible'

WASHINGTON, DC: White House Press Secretary Karoline Leavitt said Wednesday, Jan 28, that she plans to enroll her newborn daughter in the newly launched Trump Account program.

Leavitt called the initiative “incredible” during a discussion with actress Cheryl Hines at the “Trump Accounts Summit,” hosted by the US Department of the Treasury in Washington, DC.

Karoline Leavitt is signing her daughter up for a Trump Account

“So I will be signing up my daughter for a Trump account. What perfect timing, am I right? Um, but this initiative… I would encourage everyone, if they have not, and I would encourage the media in the back as well, to please take a look at trumpaccounts.gov. This is the way that families across the country can learn more, and you actually sign up for the accounts,” Leavitt said.

She touted the administration’s work on the program’s rollout and accessibility.

“And I know that the Department of Treasury and the IRS have worked incredibly hard to upscale their web design and website to ensure that this is as easy and accessible as possible. I'm blown away by the website. I tweeted it out on my own account this morning because I really think it's important for people to see how easy and accessible this initiative is. The website design is just beautiful. It's forward-looking. It's futuristic. It's as easy as an app on your iPhone to make it really simple for parents who, to Cheryl's point, are so busy and filing taxes for many, as you know it can be a headache," she explained.

Leavitt added that families with eligible newborns could benefit immediately.

“But this is something to really look forward to, and so for families with children in newborns who are eligible for that thousand dollar really startup bonus, that seed in the account to get this investment started. It's an incredible thing that so many parents across the country can take advantage of now. And even if your child was born outside of the eligibility years, you can still sign up for an account at any time, and you can start that seed fund with your own investment," she continued.

A public-private pitch backed by Trump and corporate donors

Leavitt also noted that the program reflects President Trump’s governing philosophy.

“I also just want to point out how incredible this initiative is because it brings the private sector and federal government together, which is something President Trump does best," she said. "He is a businessman at heart. He is running the federal government like it's a company, trying very hard to cut through bureaucratic waste and fraud. This program is an example of seeing philanthropists and businessmen in women and entrepreneurs come together with those at the highest level of government to do what's right for American families.”

She offered thanks to corporate donors who helped fund the initiative.

“So also a big thank you to Michael Dell and his wonderful wife and the Dell family who have been just a huge part of this and all other successful Americans and companies generously donated," Leavitt added.

The Trump Accounts were established under the One Big Beautiful Bill Act and are structured as tax-advantaged investment accounts for U.S. citizens under 18.

President Trump has described the accounts as providing “a shot at the American dream” for middle-class families. Idaho Gov. Brad Little has called the initiative “an excellent concept” with “life-changing impact on families.”

How Trump Accounts work and who qualifies

Under the program, children born between January 1, 2025, and December 31, 2028, are eligible for a $1,000 initial deposit from the US Treasury. The funds must be invested in low-cost index funds tracking U.S. stock indices such as the S&P 500.

Parents or guardians serve as custodians until the child turns 18. While no additional contributions are required, annual contributions are capped at $5,000 from family members, employers, or other contributors. Employer contributions of up to $2,500 per year are tax-free.

Notably, account growth is tax-deferred, with taxes due upon withdrawal. Withdrawals can begin at age 18 for approved purposes, including education, home purchases, or starting a business.

The program’s official website, trumpaccounts.gov, handles enrollment and outlines the initiative’s goal of long-term financial security. Treasury estimates show that a $1,000 account with no further contributions could grow to $5,800 by age 18 and $18,100 by age 28, assuming a 7% annual return. With maximum annual contributions, projections rise to $303,800 by age 18 and more than $1 million by age 28.

Several major corporations have signed on. Bank of America and JPMorgan Chase have pledged matching contributions that could double the initial deposit for eligible employees’ children, while Visa has launched a platform allowing cash-back rewards to be deposited directly into accounts.

That said, the Trump Account program is currently available nationwide through participating financial institutions.