As the president touts Trump Accounts, some families are still waiting for baby’s $1,000 - AP News

What the report says

The Associated Press reports that President Donald Trump promoted “Trump Accounts” at Wheeler High School in Marietta, Georgia, on Wednesday, July 22, 2026, saying the new investment accounts could help children build wealth and access what he described as a fairer chance at the American dream. The program offers a $1,000 Treasury-funded starter deposit for babies born from Jan. 1, 2025, through Dec. 31, 2028, when parents open eligible accounts.

According to AP, Trump said more than 7 million accounts are active. The accounts are tax-advantaged and can be opened for children under 18. Families, friends and employers may add contributions, and some wealthy donors have pledged philanthropic support. Funds are invested by private firms in index funds and generally cannot be used until the child reaches 18, with withdrawals limited to purposes such as education, starting a business or buying a home.

AP also reported that some families are still waiting for the promised $1,000 deposits, despite the Treasury Department saying most eligible families receive the money within one or two days. One New Jersey couple, Masaki and Kristina McLellan, told AP they opened an account for their daughter after initial skepticism, but were later told the deposit could take up to four weeks.

The program is being pitched by supporters as a way to broaden stock-market participation. At the Georgia event, Rick Jackson, the state’s Republican nominee for governor, said he would seek a state match for the federal seed money and personally cover it if lawmakers did not approve one.