Parents Could Put Pre Tax Paycheck Money into Trump Accounts with Employers Matching, Treasury Says The US Treasury Department and IRS have proposed regulations that would allow parents to contribute pre tax dollars from their paychecks into Trump Accounts, a new option for children's savings.
The accounts would be funded through employer matching contributions up to $2,500 per worker per year. At first glance, the idea of giving families a leg up on building wealth seems appealing.
Treasury Secretary Scott Bessent has hailed Trump Accounts as "a new way to build wealth from day one. " However, this enthusiasm should be tempered with skepticism. What's really behind this move?