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Trump Accounts explained: Who are eligible for $1,000 bonus, how to sign up and avoid scams as it launches on 4 July

Livemint – News

1d ago

Summary

President Donald Trump's administration is set to roll out the Trump Accounts program on Saturday, linking the 250th anniversary of the signing of the Declaration of Independence with an initiative aimed at encouraging long-term financial security for American children. The accounts are scheduled to begin accepting deposits on July 4, the same day the Treasury Department is expected to deposit the government-funded bonus. Trump Account , formally known as 530A accounts, are a new type of investment account for children established under Trump's “ big beautiful bill”. The initiative introduces a new savings account that allows funds to be invested in the stock market for the benefit of a child. The money remains inaccessible until the child turns 18 and can only be withdrawn for approved purposes, including higher education expenses, launching a business or making a down payment on a home. Families can already register for the programme through trumpaccounts.gov. Once a parent or legal guardian opens an account, the US Treasury Department will deposit $1,000 for eligible newborns. The accounts will be administered by private banks and brokerage firms, with investments restricted to US equity index funds that mirror the broader stock market and charge annual management fees of no more than 0.10%, according to AP . A qualifying child's account can be opened by any parent, irrespective of the parent's immigration status. During college days, he joined India’s only non-profit student journalism network, where he anchored daily news updates and produced his own weekly show called ‘Data Fix’. He was selected for the YES Foundation Media for Social Change Fellowship in Delhi, the Talking Data to the Fourth Pillar residential workshop, and the VOICE Fellowship in Pune. He holds certificates in COVID-19-verification reporting, data journalism, food & agriculture, tech policy, media literacy and countering misinformation, and tackling election disinformation courses from Thomson Foundation, IndiaSpend, The Dialogue, US Mission in India, and AFP. He can be reached on <a href="https://www.linkedin.com/in/garvit-bhirani">LinkedIn</a> or on <a href="https://x.com/GarvitBhirani">@garvitbhirani</a> on X Stay updated with the latest Trending , India , World and US news.

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Trump Account, formally known as 530A accounts, are a new type of investment account for children established under Trump's “big beautiful bill”. The initiative introduces a new savings account that allows funds to be invested in the stock market for the benefit of a child.

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250 years of American experiment: What the semi quincentennial means for diaspora

When fifty-six men gathered in Philadelphia in 1776 to sign a single sheet of parchment, they launched what has been called the greatest political journey in human history. The Founding Fathers envisioned a republic built on the radical ideals of liberty, equality, and a government accountable to its people. Nowhere is that ongoing evolution more evident than in the rise of the Indian-American diaspora. From shaping foreign policy in diplomatic corridors to drafting legislation on Capitol Hill, communities that were once outsiders are now actively steering the nation’s next chapter. To understand the enduring promise of the American idea and what this historic milestone means for the communities shaping the country's future, India Today asked three prominent Indian-American leaders—Ambassador Shefali Razdan, Representative Shri Thanedar, and Representative Suhas Subramanyam—about the nation’s founding ideals, its present reality, and its future. As an immigrant, I have lived the promise that in America, your future is defined more by your character, your work and your willingness to serve rather than by where you began. For Indian Americans, it is also a reminder that our stories are now inseparable from the American story, as we are helping to write its next chapter." Congressman Shri Thanedar: "To me, it represents gratitude for the generations who built and defended its ideals, and responsibility for those of us who carry them forward. Areas worth focusing on include ensuring that all Americans can prosper from these changes, continuing to be a leader in innovation, and promoting global peace and stability." Congressman Shri Thanedar: "The next 25 years will likely be defined by intense global competition, especially from rising powers like India and China. America will be challenged economically, technologically, and geopolitically—but it enters this era with deep advantages: world-leading innovation, strong institutions, and an unmatched ability to attract talent and capital. The rise of the Indian-American diaspora reflects a nation that continues to renew itself through talent, hard work, and opportunity — proof that the pursuit of a more perfect Union is an enduring, multi-generational journey shaped by the diversity that defines modern America.

General U.S. News1h ago

The US celebrated the end of a ‘long national nightmare’ as it turned 200. What about now?

A decade in the making, the 1976 bicentennial had a cathartic impact on the wounded national polity Americans: how do you feel about the country’s future after 250 years of independence? I t felt like a proper jamboree – a coming together of diverse peoples who thought they had something to celebrate. But the defining moment of the 1976 bicentennial, the US’s last epic birthday celebration, came two years before. “My fellow Americans, our long national nightmare is over,” Gerald Ford declared in his presidential inauguration speech of 9 August 1974. “Our great republic is a government of laws and not of men.” Ford’s words, spoken in the immediate aftermath of Richard Nixon ’s resignation over Watergate , were intended as balm to a nation already polarised by the trauma of the Vietnam war and the civil rights upheavals of the 1960s. But they also set the tone for a nationwide commemoration of America’s 200th birthday that had been a decade in the making and which, when it arrived, had a badly needed cathartic impact. The 1976 bicentennial is popularly remembered for visual events such as the tall ships parade in the New York harbour that featured 16 traditional vessels and 100 modern boats from around the world sailing down the Hudson River. It drew state visits from the heads of state of the US’s two longest-standing allies, Queen Elizabeth of Britain and Valéry Giscard d’Estaing, the president of France. Ford himself, in a 4 July speech, memorably characterised the American Declaration of Independence as “not a protest against government, but against the excesses of government”. But the 1976 anniversary is chiefly recalled by historians as an event extolling the robustness and endurance of the US political system, which was widely deemed to have functioned in the face of adversity in a manner that feels distant and remote in the era of Donald Trump . “The 1976 celebration was a more vital and happy one because of a broad belief that two years earlier the system had worked, and we were celebrating a system that had cleansed itself,” said Jonathan Alter, a historian and biographer of Jimmy Carter , who was elected president in 1976 after defeating Ford in that year’s presidential election. “We were in a period of renewal and relief, and today we’re in a period of fear and loathing,” said Alter. “We don’t have any reason to celebrate our founding documents, because we’re living in an authoritarian state that is quite different from the one that the founders created.” The prevailing mood 50 years ago was perhaps best summed up by the title of a book by the New York newspaper columnist Jimmy Breslin , How The Good Guys Finally Won, which described the role of Congress and the courts in bringing Nixon to account. Within a week of becoming president in 1969, he ordered a shake-up of the American Revolution Bicentennial Commission – a bipartisan body established by Congress three years earlier to organise celebrations – to facilitate the appointment of his allies and supporters to key positions. “There is a really easy comparison to be made between how Richard Nixon initially wanted to celebrate the bicentennial, and how Trump wants to now, which is that both administrations micromanaged and tried to exercise tremendous control over a kind of top-down patriotic commemoration,” said MJ Rymsza-Pawlowska, a history professor at the American University in Washington. Amid widespread criticism even among Republicans, and with Watergate gradually consuming his presidency, the commission was eventually wound up by Congress while Nixon was still in the White House, and replaced with a new body that promised to support small-scale and decentralised events in local communities across the country.

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Trump Accounts explained: Who are eligible for $1,000 bonus, how to sign up and avoid scams as it launches on 4 July

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The US celebrated the end of a ‘long national nightmare’ as it turned 200. What about now?