Treasury Secretary Scott Bessent said at Breitbart’s State of the Economy event on Tuesday in Washington that automatic enrollment was coming for Trump Accounts to make every American child under 18 eligible.
Bessent said the rollout of Trump Accounts — tax-advantaged investment accounts created in the Working Families Tax Cuts — was “going great,” and enrollment has already reached over 7 million since the formal launch in July 2026.
He alluded to making an announcement at the end of the month that would create a spike in the enrollment figures, then he made a breaking news announcement that automatic enrollment was coming. This is projected to push the enrollment up to 70 million, and Bessent added that activation would be still be required for eligible accounts.
“Thirty-eight percent of American households have no stake in our great equity markets, and everyone should. I think everyone should have a piece of the action,” he said. “People who have worked and saved and have a stake in the economy and participate in the market aren’t going to want to bring it down.”
Bessent criticized the Democratic Socialists of America (DSA) movement, noting the irony of “trust fund kids” leading a movement dedicated to bringing the market down.
Another provision of Trump Accounts is the $1,000 in seed money also included in the Working Families Tax Cuts covering those born during the administration. Bessent praised the work of philanthropists such as Michael and Susan Dell, who have committed $6.25 billion toward funding the seed money.
In August, the Treasury Department unveiled employer guidance for Trump Accounts, including arrangements that allow employees to make pre-tax contributions to the Trump Accounts of their dependents.
“Trump Accounts are giving American families a new way to build wealth from day one,” said Bessent in a statement, and noted that over 50 companies have committed to Trump Account contributions for their employees.
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