Trump's account registration exceeded 7 million, and the U.S. Treasury Secretary called it the most successful project in government history
On 28 July, United States Treasury Secretary Scott Becent stated that Trump Accounts had become "the most successful start-up project in the history of the United States Government" and that about 7 million children had now been registered. Becent revealed at the meeting of the Committee on Financial Literacy and Education that the number of people enrolled in the project had increased further from 6.5 million earlier this month. According to the United States Treasury Department, the early registration of Trump accounts has outpaced other digital platforms and financial products. The Tramp account was officially launched on July 4th, also known as the 530A account, and is open to all American children with a social security number under the age of 18. According to the plan, a child born between 2025 and 2028 will receive a one-time initial deposit of $1,000 from the United States Treasury Department. Parents, guardians, grandparents, etc. can be added up to $5,000 per year and the funds will be invested in tracking the performance of the 500 index. Becent stated that the project would help ordinary American families to access capital markets, “creating a new generation of shareholders”, and allow long-term exclusions from Wall Street to participate in stock investments. An earlier analysis by the Advisory Body, McKinsey, suggested that, with broad participation, the Trump Account could accumulate assets of between $80 billion and $90 billion over the next decade for United States children. Ultimately, however, the size depends on household participation rates, the willingness to sustain investment and long-term investment performance。
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