Trump Accounts App Launches

The United States — United States Department of the Treasury>>> launched a new mobile app for Trump Accounts, which are IRA-style savings accounts for children. Treasury Secretary Scott Bessent>>> announced the app's availability on major platforms, noting that millions of children already have accounts. The app, created by Robinhood Markets>>> and BNY>>>, allows parents to view balances and make investment decisions. The federal government will contribute $1,000 to eligible accounts for children born between January 1, 2025, and December 31, 2028, with investments officially opening on July 4. Parents, employers, friends, and relatives can contribute up to $5,000 annually. Several businesses, including Uber>>>, Dell Technologies>>>, Goldman Sachs>>>, and Altimeter Capital>>>, have committed to investing in employee accounts. The program aims to expand financial opportunity for American families, with the app providing a secure way to engage with the program.