Hear about the tax-deferred investment account for kids that's part of the One Big Beautiful Bill Act? While “Trump accounts” might sound like a boon for parents, they aren’t all they’re cracked up to be.

The new account is the latest development as Emil Bove, a top Justice Department official and Trump's former personal attorney, faces a future confirmation vote in the U.S. Senate.

The accounts are opened by parents or by the government when a tax return is filed. Family and friends can contribute up to $5,000 a year until the child turns 18, with the funds required to be invested in low-cost stock index funds or ETFs.

Trump has sidestepped precedent by refusing to sever ties to companies and other financial assets, instead vesting control of his assets to a family-managed trust. This allows the president’s supporters to pay directly into his family’s coffers by booking their vacations and retreats at any of his family’s many resorts, private clubs, and hotels.

President Trump's new investment program gives every American baby born through 2028 a $1,000 government head start. But financial experts are warning parents that these "Trump accounts" may not be the gift they appear to be.

Thanks to Donald Trump’s leadership and initiative on policies like the Trump accounts, the Republican Party has unilaterally become the pro-family party

These new accounts might provide a nice bonus for new parents, but most Americans might not be able to take full advantage of them.

Under the final iteration, the so-called Trump accounts are custodial individual retirement accounts for kids, with special rules until the year the child turns 18. For the next few years, they come with $1,000 of seed money from the Treasury Department for newborns. That money would grow tax-deferred, with income taxes due upon withdrawal.

Technically, any parent can open a Trump Account for their child. But only children born after Dec. 31, 2024, and before Jan. 1, 2029, who are U.S. citizens and have a Social Security number, are eligible to receive the one-time government contribution of $1,000.

President Donald Trump’s recent account of how he broke off his friendship with the late, convicted sex trafficker Jeffrey Epstein sent shockwaves Tuesday. Trump told a gaggle of reporters aboard Air Force One that he banned Epstein from his Mar-a-Lago resort over a dispute about Epstein poaching employees.

During a presidential trip to Scotland, President Trump hosted a ribbon cutting for a new golf course as one of his properties, just one of several ventures he has launched since returning to office.