Proposals to implement so-called “Trump accounts” are one step closer to being released.
The White House’s Office of Information and Regulatory Affairs on Wednesday received two proposed rules related to the new savings accounts for children created by the 2025 GOP tax law. Once the review is complete, the Treasury Department and IRS will open the proposals for a formal notice-and-comment period.
The federal government will seed Trump accounts with $1,000 for babies born in the next few years, and parents will be able to contribute to the accounts starting next summer. The accounts have been popular among big names ...
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