IRS Chief Says Every American Family Should Have a Trump Account as Enrollment Push Expands

IRS Commissioner Frank Bisignano says the long-term vision for Trump Accounts is ambitious: every eligible American family should eventually have one.

Speaking in a television interview, Bisignano said the administration hopes to expand enrollment to roughly 70 million children under the age of 18, calling the program an opportunity to help families build long-term savings.

Millions Already Enrolled

According to figures released by the U.S. Treasury Department, approximately 6.5 million children have already been enrolled in Trump Accounts.

The tax-advantaged investment accounts are designed to help families save for a child’s future, with eligible participants receiving financial incentives under the program.

Plans to Make Enrollment Easier

Bisignano said officials are working with tax preparation companies, financial institutions, and other partners to simplify the enrollment process.

He described the initiative as largely a technology-driven effort, adding that making enrollment quick and accessible will be key to expanding participation across the country.

Financial Incentives Could Boost Participation

The program includes several incentives intended to encourage families to sign up.

Among them is a $1,000 federal contribution for eligible children born between 2025 and 2028, along with the possibility of additional contributions from employers and private philanthropic organizations.

Supporters argue these incentives could help families begin investing for education, homeownership, retirement, or other future financial goals at an early age.

Automatic Enrollment Under Discussion

Some supporters of the initiative have also suggested automatically creating accounts for all eligible children.

While no nationwide automatic enrollment policy has been announced, advocates believe such a move could significantly increase participation if implemented in the future.

The administration has not indicated whether or when such a proposal could be adopted, but officials continue to promote the program as enrollment expands.