President Trump said automatic enrollment in Trump Accounts will give more than 60 million additional children an account, while nearly 8 million children already participate. The accounts were created under the One Big Beautiful Bill Act, signed into law in July 2025, and are designed to give families investment accounts for children. Parents must request the $1,000 federal contribution available to children born from 2025 through 2028, while the accounts allow after-tax contributions of up to $5,000 annually. The federal government will invest account assets in one of five low-cost exchange-traded funds, and the accounts will operate as traditional individual retirement accounts when holders turn 18. Trump said the program would encourage capitalism and reduce favorable views of socialism and communism among younger Americans.