Kansas U.S. Senator Roger Marshall celebrated the official launch of Trump Accounts, which were activated over the weekend and now allow parents, guardians, friends, and employers to begin contributing to these tax-advantaged savings accounts for eligible children. As part of the launch, children born between January 1, 2025, and December 31, 2028, will receive an initial $1,000 seed contribution from the U.S. Department of the Treasury.
Established under the Working Families Tax Cuts law, Trump Accounts provide a tax-advantaged way for families to save for a child's future. Eligible children across Kansas can now begin building long-term financial security with support from family members, employers, and their communities. Through an initiative championed by First Lady Melania Trump, foster children in participating states may also have accounts opened on their behalf, helping expand financial opportunities for some of our nation's most vulnerable children.
"President Trump is investing in America's future by giving our nation's children a financial head start,” said Senator Marshall. “Trump Accounts encourage a lifetime of saving, investing, and personal responsibility, helping young Americans prepare to achieve the American Dream—whether that's a college degree, purchasing their first home, launching a business, or building financial independence. This is about creating more opportunities and ensuring every generation has the chance to build a better life than the one before it."
How it works:
- Parents or guardians create the accounts through the Trump Accounts website or app, or when filing their taxes
- Eligible accounts receive $1,000 from the U.S. Treasury, plus any eligible philanthropic and other governmental contributions
- Friends, families, and employers can contribute up to $5,000 per year, adjusted for inflation
- The money is invested in low-cost index funds that typically grow year after year
- When the child turns 18, they can continue saving for retirement or make withdrawals for eligible purposes, like furthering their education or purchasing a first home
Senator Marshall encourages Kansas families to visit the Trumpaccounts.gov today to learn more about the program, enroll eligible children, and start saving for their future.