There is a new app going live on Thursday for parents who set up Trump Accounts for their children, Treasury Secretary Scott Bessent said Wednesday.
Bessent announced in a cabinet meeting on Wednesday that the app would be available “on all major platforms tomorrow morning,” and noted that nearly 6 million children already have accounts set up.
The app was created by Robinhood, the commission-free trading and investing platform, and the Bank of New York, both of which were selected by the Treasury Departmentto manage Trump Accounts in this initial phase.
Trump Accounts are IRA-style savings accounts for children. They are like traditional IRAs in that money in the accounts will grow tax deferred. But the rules differ when it comes to contributions, withdrawals and approved uses of the money. Also, the money may not be tapped before a child turns 18.
Source:
https://www.cnn.com/2026/05/27/economy/new-app-for-trump-accounts
Diem ‘Richard’ Nguyen
Liên Minh Bảo Hiến Mỹ Gốc Việt
Vietnamese American Conservative Alliance (VACA)
https://freedom-vaca.org/vaca-blog-tieng-viet-nam/