Scoop: Trump to headline summit on Trump Accounts
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President Trump will join Treasury Secretary Scott Bessent and philanthropist Michael Dell at a day-long summit in Washington on Wednesday to encourage parents to sign up for Trump Accounts, the new investment vehicle for kids.
Why it matters: Trump is highlighting the accounts as part of his push on affordability, with polls showing Americans are critical of his priorities.
- Trump also plans to tackle affordability during remarks Tuesday in Clive, Iowa.
The Trump Accounts summit will have a Main Street focus, including families who'll participate in panel discussions — "not just CEOs and celebs," an administration official told Axios.
- Trump will deliver the keynote in the ornate Mellon Auditorium, dedicated by President Franklin Roosevelt in 1935.
Zoom in: Michael Dell, chairman and CEO of Dell Technologies, and his wife, Susan, ignited excitement about the accounts among philanthropists in December when they announced a $6.25 billion commitment that The New York Times called "one of the largest philanthropic gifts ever to go directly to Americans."
- Two weeks later, Bessent unveiled a "50-State Challenge" to encourage investment in Trump Accounts. Bridgewater Associates founder Ray Dalio committed $75 million for Connecticut children.
Wednesday's summit will "outline how Trump Accounts work, discuss projected economic impacts, and emphasize the administration's commitment to expanding financial opportunity for American families," the official said.
- Other expected participants include rapper Nicki Minaj, Kevin O'Leary of "Shark Tank" (and "Marty Supreme"), actress Cheryl Hines (who is married to HHS Secretary Robert F. Kennedy Jr.), multiple GOP members of Congress and several Fortune 500 CEOs.
Zoom out: Bessent lauded Trump Accounts last month as "perhaps the most groundbreaking policy innovation of modern times. And they are shaped by a simple vision: 'Every American a shareholder.'"
- Treasury reports a groundswell of interest from the philanthropic and corporate communities.
How it works: New parents can sign up via Form 4547 in this year's tax filing.
- The accounts, part of Trump's "One Big, Beautiful Bill," allow parents to establish a new type of tax-advantaged individual retirement account for their children.
- Children born between Jan. 1, 2025, and Dec. 31, 2028, are eligible to receive $1,000 from a Treasury pilot program. Parents can contribute up to $5,000 a year, and employers up to $2,500 a year.
- The accounts are open to older kids as well. The Dell and Dalio gifts target those not receiving Treasury money.
Monday is opening day of the 2026 filing season — one of the earliest starts in decades.
- Go deeper: What to know about Trump Accounts.
