Over 3 Million Trump Accounts Opened: SSA and IRS Chief Frank Bisignano
Frank Bisignano reveals over 3 million Trump accounts opened, surpassing the initial one-million-baby goal for $1,000 payments. Registered via Form 4547, these instruments allow parents and figures like Michael Dell to deposit funds for children under 18, functioning as powerful savings vehicles akin to IRAs. As financial planners and tax preparers educate the public, this mechanism anticipates explosive growth, fundamentally reshaping how families secure future financial stability through targeted government incentives. [Automatically generated summary]
I know this is something we, when we were talking offline, I know this is something very important to you.
And so just explain to me what they are and where we're at.
Oh, well, we're about to pierce a million babies born that are going to get the $1,000.
So start there.
The next four years, you know, a child born.
You fill out my favorite form of $4547.
And you can register your child, get $1,000, put in a Trump account for them.
But you can register anyone up till 18.
And you begin, whether it's Michael Dell doing it, or there's lots of people who are putting money into the system, parents using it as a savings vehicle for their child up till 18.
It's a powerful, powerful instrument.
We have over 3 million Trump accounts opened.
Obviously, I said a million babies, but we have over 3 million because people are opening up for their children.
I think it's fabulous.
I think, you know, it's another form of an IRA, just a different concept.
Right.
And I mean, basically, for any child under 18, this can be opened up.
So it sounds like there's a lot more opportunity here to be taken into account.
Yeah, I think people are becoming educated to the topic.
We probably will continue to educate them.
I think you'll see financial planners educating them.
I think you're going to see tax preparers educating them.