Program to open $1,000 tax-deferred savings accounts for newborns during Trump's term
![US President Donald Trump speaks at an event at the Burning Hills Amphitheatre in Medora, North Dakota, on Tuesday (local time). [AFP]](https://wimg.heraldcorp.com/news/cms/2026/07/02/news-p.v1.20260702.5c48983634444e5c8b12d2cecffac932_P1.jpg)
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US memory chipmaker Micron has agreed to contribute $250 million to the so-called "Trump Accounts" program, designed to build financial assets for newborns, President Donald Trump said Tuesday (local time).
Trump announced the contribution in a post on his Truth Social account, calling it a "historic investment." He added that "Micron is investing directly in American workers and families," and that this "is exactly what the tremendously successful Trump Accounts were established to do."
The Trump Accounts program — a campaign pledge from Trump's presidential run — will officially launch on Saturday, the 250th anniversary of American independence. The initiative creates tax-deferred savings and investment accounts for American children.
Newborns born between Jan. 1, 2025, and Dec. 31, 2028 — a period that largely overlaps with Trump's second term (January 2025 to January 2029) — will each receive a one-time $1,000 contribution from the US government. Children born outside that window will be supported through accounts funded by private donations and other sources.
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