Meuser Thanks Treasury Secretary Bessent for Touting Benefits of Auto-Enrollment for Trump Accounts

HARRISBURG, PA - Today, Congressman Dan Meuser (PA-09) issued the following statement after Treasury Secretary Scott Bessent's press conference in Harrisburg, PA, where he discussed what automatic enrollment for Trump Accounts means for Pennsylvania families.

"I'd like to thank Secretary Bessent for being in Harrisburg today highlighting the opportunities that Trump Accounts are creating for Pennsylvania families," said Congressman Meuser. "Through participatory capitalism, we are creating the opportunity for families to set their children up for financial success and empowering parents to teach their children the benefits of responsible financial management and participation in our markets. Thanks to auto-enrollment, over 60 million children now have an account that can easily be claimed by their parents. Created by the Republican's Working Families Tax Cuts Act, Trump Accounts are giving millions of young Pennsylvanians a financial head start. I'm grateful to Secretary Bessent and President Trump for their hard work in ensuring every American child has access to the wealth-building opportunities Trump Accounts provide."

Background on Trump Accounts:

Created by the GOP's Working Families Tax Cuts Act, these tax-free investment accounts will harness the strength of financial markets to reignite the American Dream of a comfortable retirement for America's youth. Supercharged by a one-time contribution of $1,000 from Treasury, Trump Accounts allow families to contribute up to $5,000 per year to boost their child's long-term savings. Additionally, employers can contribute up to $2,500 per year to Trump Accounts for their employees' children, expanding the pool of potential investments. Republicans in Congress were careful in crafting the Working Families Tax Cuts Act to ensure the healthy growth of Trump Accounts. When families invest in their child's Trump Account, the funds are allocated to a diversified portfolio of low-cost index funds, mutual funds, or exchange-traded funds designed to maximize long-term growth while minimizing risk.

With automatic enrollment complete, every eligible child under the age of eighteen with a valid Social Security number now has a Trump Account. A parent or guardian must claim the child's automatically enrolled Trump Account to manage it and allow for family members, friends, and employers to contribute. Automatic enrollment also allows businesses, financial institutions, and philanthropists to contribute individual stocks into the accounts of thousands or even millions of children. To claim your child's Trump Account, download the official Trump Accounts app, available for iOS and Android. During the claiming process, a parent or guardian will verify their identity and relationship to their child, review the child's information, and accept the account terms. Eligible children born between January 21, 2025, and December 31, 2028, are eligible to receive the one-time $1,000 seed contribution. For more information, visit TrumpAccounts.gov.

Since Trump Accounts went live on July 4, 2026, 7 million children have already had a Trump Account created for them by their families. With Automatic Enrollment now in effect, over 60 million additional children now have an account created in their name. According to the White House Council of Economic Advisors, Trump accounts are projected to grow anywhere from roughly $6,000 (with only the initial $1,000 federal seed and no extra contributions) to over $300,000 by age 18 if maximum annual contributions of $5,000 are made. This is money that young Americans can use for their college education, to buy a home, or other important life expenses.