Trump child savings accounts pass 70 million enrollments

A White House spokesman says nearly 70 million Trump accounts have been created through automatic enrollment, while a Treasury official reports more than $8 billion has been deposited nationwide. Earlier Treasury data from July showed over 6.5 million families had signed up, including more than 1.5 million eligible children. The program, created under the 2025 tax-and-spending law, gives a one-time $1,000 federal contribution to eligible U.S. citizens born between 2025 and 2028 with valid Social Security numbers. One father told Fortune he will not open an account for his daughter and will instead deposit $1,000 of his own money elsewhere.