Opinion

SEN DAVE McCORMICK: Trump Accounts give all Americans a stake in prosperity

Trump Accounts give 25 million American children a real ownership stake in the economy

By David McCormick Fox News

Published July 7, 2026 5:00am EDT

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Treasury Secretary Scott Bessent details benefits of new Trump Accounts for newborns

Treasury Secretary Scott Bessent discusses the new Trump Accounts, a program offering a $1,000 government contribution for newborns.

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Last week, my friend Senator John Fetterman and I stood on a court at the 6th Man Center — a Philadelphia Youth Basketball facility in North Philly — watching dozens of children crowd around their phones grinning. They weren’t watching a video or playing a game. They were looking for investment accounts in their own names — accounts that give them a real stake in America’s future and become available on July 4.

Parents can celebrate Independence Day knowing that their children are eligible for a Trump Account: a $1,000 Treasury seed for every child born between 2025 and 2028, and another $250 for children ten and under in lower-income communities, funded not by Washington but by philanthropy.

These accounts were created a year ago as part of President Trump’s Working Families Tax Cuts Act, for which I cast the deciding vote in the Senate. Alongside no tax........

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