The One Big Beautiful Bill Act created tax-advantaged savings and investment accounts for children and gave them the name “Trump Accounts.” Children who are U.S. citizens born between January 1, 2025, and December 31, 2028, are eligible for a $1,000 seed contribution from the Treasury, and the accounts were scheduled to launch on July 4, 2026. A federal benefit now carries the sitting president's name, and the administration has made the accounts a centerpiece of its affordability pitch ahead of the midterms.
On January 28, 2026, Trump headlined the Treasury Department's Trump Accounts Summit in Washington. Visa CEO Ryan McInerney, speaking by video, said the company would work with its bank partners to let cardholders direct credit card rewards into Trump Accounts. Trump praised it from the stage: “Visa is creating a brand new platform, which will allow credit card holders to deposit their cash back rewards directly into Trump accounts. That's a big deal.” Visa gave no launch date and did not say which cards would qualify. JPMorgan, Bank of America and other employers announced at the same time that they would match the $1,000 government contribution for their employees' children.
Visa's post announcing the plan drew more than 11 million views on X and a wave of boycott calls from critics who accused the company of aligning itself with Trump. Visa told Newsweek the accounts had bipartisan support and that the move was about “helping Americans build long-term financial security.” Lee Hepner of the American Economic Liberties Project noted that Visa faces a Justice Department lawsuit, filed under Biden, alleging illegal monopolization of debit card transactions. Critics of the accounts themselves, including NYU's Tax Law Center, argue that tax-preferred accounts mainly help families that already have spare money.
Correction (October 14, 2026): An earlier version said Trump created and named the accounts and hosted the summit; the accounts were created by the One Big Beautiful Bill Act and the summit was a Treasury Department event that Trump headlined. It said McInerney appeared in person; he addressed the summit by video. It said the Visa feature would launch in July 2026; Visa gave no launch date, and July 4 is the launch date of the accounts. A paraphrase of Visa's statement was replaced with its actual wording. Unsupported claims were cut: that no previous president has named a benefit program after himself, a suggested quid pro quo with Visa, and a comparison to the Space Force.