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Trump Accounts for Kids Launching July 4 | Dallas News
Description
Starting July 4th, a new “Trump Account” launches — a retirement-style savings tool for kids under 18, with a $1,000 government boost for children born between 2025 and 2028. Parents, guardians, or employers can contribute up to $5,000 annually (with employer limits at $2,500), invested in major market indexes during the child’s “growth period” until age 18. After that, it behaves like a traditional IRA, with penalties for early withdrawal. Six million people have already signed up — and philanthropists are pledging more. No tax deduction for contributions, but the child benefits later.
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