Money | $1,000 Baby Bonus: What to Know About ‘Trump Accounts’ for Newborns

On Friday, President Donald Trump signed into law his sweeping tax package, dubbed the “big, beautiful” bill, which includes a new savings account for children that comes with a one-time baby bonus. The new birth-based custodial accounts, often referred to as "Trump Accounts, are designed as long-term investment accounts for newborns. Initially funded by a $1,000 contribution from the federal government, these accounts are tax-preferred and remain tied up until the account holder turns 18....

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