Fetterman says he’ll open Trump Accounts for kids

Senate Fetterman says he’ll open Trump Accounts for kids Comments: by Ashleigh Fields - 06/30/26 10:33 AM ET Comments: Link copied by Ashleigh Fields - 06/30/26 10:33 AM ET Comments: Link copied

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Sen. John Fetterman (D-Pa.) on Monday said he would open accounts for all three of his children as part of President Trump’s investment initiative.

His three children will not qualify for the $1,000 seed funds from the Treasury but remain eligible for “Trump accounts” that receive contributions from parents, employers and certain qualifying philanthropic gifts.

For example, the Michael & Susan Dell Foundation pledged to provide a $250 deposit for children aged 10 or younger if they live in a ZIP code with a median household income of $150,000 or less. Dalio Philanthropies also committed to providing an additional $250 per child for approximately 300,000 children in Connecticut.

Other companies including Uber, Dell, Goldman Sachs and Altimeter, have offered to set aside billions to invest in the accounts of company employees who become new parents.

The tax-free accounts established under the One Big Beautiful Bill Act, are intended to serve as savings for kids’ future. Once children turn 18, the funds can be used to buy a house, pay for their education or start a business, among other ventures.

The government seed deposits, however, are only available for those born between Jan. 1, 2025, and December 21, 2028. Fetterman’s kids are ages 12, 14 and 17.

“I am begging your parents to get involved in this,” the senator said Monday, while participating alongside Sen. Dave McCormick (R-Pa.) at a youth basketball camp, according to The Philadelphia Inquirer.

“It’s about all of your futures,” he added.

The Pennsylvania Democrat originally voted against legislation that instated the so-called “Trump accounts,” but has since become a vocal proponent for the multi-faceted investment.

The funds went live in late March and the initial $1,000 seed deposit for those who are eligible is set to drop on Saturday.

Fetterman warned the public not to fall into partisan politics, preventing their child from sharing in the wealth provided by the savings accounts.

“Do not fall into that political trap,” he said, per the Inquirer, adding “This isn’t some radical thing… Do this for your child.”

Multiple celebrities including Erika Kirk, the widow of the late conservative activist Charlie Kirk, and Nicki Minaj have promoted the “Trump accounts” and promised to invest in sponsoring contributions.

Twenty-three Republican states have also committed to allowing foster children to receive the funds through enrollment from state, territorial, and tribal child welfare agencies as outlined in an initiative from first lady Melania Trump and the Treasury.

The president has also backed the effort, stating foster children deserve the “same chance at asset ownership and long-term wealth as every other child.”