Millions of children auto-enrolled in 'Trump Accounts': What to know

President Trump touted his administration’s investment accounts for children on Wednesday, as millions of American kids will now be automatically enrolled in the program. Flanked by administration officials, business leaders and Sen. Ted Cruz (R-Texas) in the Oval Office, the president said the “Trump Accounts” will help children build wealth. “If all goes well, which I think it will, they’ll end up being quite rich by the time they’re 18, and then 21 and as time goes by,” Trump predicted. Here is what to know about the accounts, which the administration created under the One Big Beautiful Bill Act. Under new rules the Treasury Department released last week, the federal government will automatically enroll children in the Trump Accounts program. Treasury Secretary Scott Bessent said in a release the auto-enrollment feature will result in more than 60 million additional kids having an account. Trump said Wednesday that nearly 8 million children already had an account. “Every family, every child deserves to have a piece of the American Dream, and these Trump Accounts are just that,” Bessent said Wednesday alongside the president. Through auto-enrollment, every eligible child under the age of 18 with a valid Social Security number has an account, per the Treasury. Social Security Administration (SSA) Commissioner Frank Bisignano said in the Oval Office that more than 10 million of the roughly 70 million accounts “are already funded” with $4.5 billion. By this weekend, Bisignano …