Children will raise the American flag as Republican presidential candidate President Donald Trump speaks at a campaign rally at Saginaw Valley State University in Saginaw, Michigan on October 3, 2024. Jim Watson/AFP via Getty Images
Created under President Donald Trump’s one big beautiful bill law, the new tax savings program is set to add complexity to American finances and tax plans, while also giving American newborns a financial head start.
Under the bill, babies born in the United States between January 1, 2025 and December 31, 2028 will receive $1,000 from the federal government placed in a newly created “Trump Account.”
