President Donald Trump is promoting his signature Trump Accounts initiative, which aims to provide every child born during his second term with $1,000 in seed money to invest in the stock market. The accounts, which became available July 4, are intended to give more Americans a stake in market performance and counter the appeal of democratic socialists. However, some parents have reported delays in receiving the promised initial funding.
The Treasury Department states that 6.5 million Trump Accounts have been opened, with 1.5 million eligible for the $1,000 seed deposit for babies born between 2025 and 2028. The tax-advantaged accounts, established by the One Big Beautiful Bill, can be opened for any child under 18. After initial setup, parents, relatives, friends, and employers can contribute. The funds are managed by private firms investing in index funds and cannot be accessed by the child until they turn 18, for purposes such as education, starting a business, or purchasing a home.
Despite the program's rollout, some parents have shared on social media and in interviews that they are still awaiting the $1,000. Masaki and Kristina McLellan, parents from New Jersey whose daughter Maya was born in late March, initially hesitated to sign up, viewing it as a potential political stunt. However, the $1,000 incentive prompted them to open an account on July 6. After an initial rejection and an hour-long call to the Trump Account hotline, Masaki McLellan was told the funds would arrive in 10 days, a timeframe later extended to four weeks.
Kristina McLellan expressed disappointment with the delay, noting that Maya already has other investments, including a 529 college savings plan and a custodial brokerage account. "We definitely want to give her options for her future and make sure she can choose what she wants to do," she said.
The Treasury Department attributed the wait times to "standard processing time, like receiving a tax refund," and stated that most parents receive their funds within one to two days. The department provided the McLellans with a conservative estimate of up to four weeks for the transfer. Officials described Trump Accounts as a program that "levels the playing field" and has become "the most popular and successful government-backed savings product in U.S. history," with approximately 1 million sign-ups per month prior to launch.
The Trump administration's push for the accounts comes as Republicans face scrutiny over economic policies ahead of midterm elections. A June survey by The Associated Press-NORC Center for Public Affairs Research indicated that only 33% of U.S. adults approve of Trump's economic leadership. Critics of the Trump Accounts argue that the program does not address immediate needs of young children, such as poverty, homelessness, and hunger, during their early years. Additionally, the legislation that created the accounts also reduced funding for programs like Medicaid and the Supplemental Nutrition Assistance Program, which are utilized by many children.