Trump Accounts Draw 6.5M Sign-Ups, Families Await Baby Bonus

President Donald Trump is promoting the Trump Accounts program as a resounding success, with 6.5 million children signed up for the signature initiative that provides $1,000 government-funded investment accounts for newborns. However, as Trump prepares to speak at a Georgia high school on Wednesday to tout the program, some families report they are still waiting for the promised seed funding to arrive, highlighting implementation challenges for one of the administration’s flagship domestic policies.

Program Launch and Early Enrollment

The Trump Accounts program went live on July 4, 2026, offering $1,000 in seed money to every child born during Trump’s second term (2025-2028). The Treasury Department reports that 6.5 million families have signed up, with 1.5 million children eligible for the initial $1,000 deposit, according to AP News.

The tax-advantaged accounts, created through Trump’s “One Big Beautiful Bill,” function similarly to IRAs for children. The government deposits $1,000 as seed funding, and parents, relatives, employers, and philanthropists can make additional contributions. The money is invested in U.S. equity index funds with capped fees and cannot be accessed until the child turns 18, at which point it can be used only for education, starting a business, or buying a home.

Delays Frustrate Some Families

While the Treasury Department says most families receive their funds within one to two days, some parents report a different experience. Masaki and Kristina McLellan of Bergen County, New Jersey — parents of daughter Maya, born in late March — applied for a Trump Account on July 6. After an initial rejection, a one-hour call to the Trump Account hotline, and a promise of funding within 10 days, they were later told to expect a wait of up to four weeks, as Fortune reported.

“We definitely want to give her options for her future and make sure she can choose what she wants to do,” Kristina McLellan, a studio director for a local news station, told the Associated Press. Maya already has a 529 college savings plan and a custodial brokerage account; the Trump Account would be her third investment account.

The Treasury Department emphasized that the McLellans’ case is unusual, describing it as a “sliver” of applicants who need customer support. The department characterized the lag as “standard processing time, like receiving a tax refund” and noted that the four-week estimate is a conservative projection.

Expansion Plans and Philanthropic Support

The administration is already looking ahead to broader enrollment. On July 15, the Treasury Department announced that Frank Bisignano — CEO of the IRS and Commissioner of the Social Security Administration — would lead the next phase of expansion, as detailed in a Treasury Department press release.

In an interview with CNBC, Bisignano said he expects 70 million children to eventually be enrolled. “We should have every family enrolled in a Trump Account,” he told CNBC’s “Squawk Box,” adding that he has met with CEOs of tax-preparation companies to discuss distribution channels.

The program has also attracted significant philanthropic backing. Michael and Susan Dell pledged $6.25 billion, Micron CEO Sanjay Mehrotra pledged $250 million, and hedge fund founder Ray Dalio pledged $75 million specifically for Connecticut children.

Political and Economic Context

Trump’s Georgia visit comes as he and fellow Republicans face pressure over the economy ahead of the midterm elections. Only 33% of U.S. adults approve of Trump’s economic leadership, among the lower ratings of his second term, according to an AP-NORC survey from June. Tariffs and the ongoing war with Iran have contributed to rising prices, complicating the administration’s economic messaging.

Criticism and Concerns

The program has drawn criticism from multiple angles. As Bloomberg reporter Stacey Vanek Smith noted on NPR, the accounts could widen rather than narrow the wealth gap. By the White House’s own calculations, a family making maximum contributions could see roughly $300,000 by the child’s 18th birthday, while a family unable to contribute would have less than $6,000.

Critics also argue that the program does nothing to help families during a child’s earliest years, when children are most vulnerable to poverty and hunger. The same legislation that created Trump Accounts also cut funding for Medicaid and the Supplemental Nutrition Assistance Program — programs disproportionately used by children.

What’s Next

As Trump takes his message to Georgia, the administration faces the challenge of balancing its narrative of success with the reality of implementation delays. With automatic enrollment via the Social Security Administration under consideration and Bisignano at the helm of expansion efforts, the coming months will test whether the program can deliver on its promise of giving every American child a stake in the nation’s economic future.