US President Donald Trump has promoted his administration’s Trump Accounts initiative as a way to help children build wealth from birth, even as some parents say they are still waiting for the promised $1,000 government contribution.
Trump is expected to visit a high school in Georgia on Wednesday to highlight the investment programme, which provides every child born during his second term with a $1,000 government-funded investment account.
The tax-advantaged accounts, introduced through Trump’s One Big Beautiful Bill, became available on July 4. Families with children under 18 can open an account, while babies born between 2025 and 2028 qualify for the $1,000 seed investment.
According to the US Treasury Department, more than 6.5 million people have signed up for the programme, with about 1.5 million children eligible for the government contribution.
Supporters say the initiative will encourage more Americans to invest in the stock market and help families build long-term wealth. After an account is opened, parents, relatives, employers and even charitable organisations can make additional contributions. The funds are invested in index funds and cannot be accessed until the child turns 18, except for approved purposes such as education, starting a business or purchasing a home.
However, some parents claim the promised funds have yet to appear in their children’s accounts.
Masaki and Kristina McLellan, whose daughter Maya was born in March, said they were initially sceptical about participating in the programme but decided to enrol after learning about the $1,000 incentive.
Masaki said he applied for the account shortly after the programme launched. Although the application was initially rejected, it was eventually approved after he contacted the customer service hotline.
He said he was first told the money would arrive within 10 days but has since been informed the process could take up to four weeks.
Kristina expressed disappointment over the delay but said the family had already opened other investment accounts for their daughter.
“We definitely want to give her options for her future and make sure she can choose what she wants to do,” she said.
Responding to concerns, the Treasury Department described the waiting period as routine.
“Trump Accounts level the playing field by allowing every parent to invest in their children’s future, not just wealthy families with trust funds,” the department said.
“With roughly 1 million sign-ups per month before launch, Trump Accounts have become the most popular and successful government-backed savings product in U.S. history.”
The department added that most families receive the government contribution within one or two days after their accounts are processed, but longer timelines are sometimes provided as a precaution.
Trump’s promotion of the programme comes as Republicans face growing scrutiny over the economy ahead of the midterm elections.
The initiative has drawn comparisons to so-called baby bonds, savings programmes introduced by several Democratic-led states and cities to reduce wealth inequality. Unlike those programmes, however, Trump Accounts are available to families regardless of income level.
Critics argue the accounts provide little immediate support for families with young children and note that the legislation establishing the programme also reduced funding for social welfare initiatives, including Medicaid and food assistance programmes relied on by many low-income households.
