Trump Accounts

This savings account is fully in the child’s name, with parents or legal guardians serving as sole custodian until they turn 18. Once the Trump account is created, custodians can deposit up to $5,000 per year to maximize growth, with no deposit requirement at all. Additionally, a custodian’s employer may make an annual contribution of up to $2,500 to a Trump Account, and that contribution will not impact the employee’s taxable income.

These savings accounts will grow alongside the child, invested in American companies, and will jumpstart the financial future of our youth. According to the White House, this account could grow up to $19,000 by the time a child is 18, if 250 additional dollars are invested each year. That is a huge boost for our young adults and gives them support to pursue their dreams as their lives are just getting started.

This is an incredible way to give our children across America a needed boost, and a creative way to increase finical literacy in our youth, providing a foundation they may have not otherwise have. I encourage all eligible families in West Virginia to take advantage of this once in a lifetime opportunity.

Creating an account