More than 6 million children sign up for new Trump Accounts

More than 6 million children have been registered for Trump Accounts ahead of the program's July 4 launch, making an early test of the new tax-advantaged investment accounts for minors. The Treasury Department said about 1.4 million of those children were born between 2025 and 2028 and are eligible for a $1,000 federal contribution. Families can add up to $5,000 a year, while employers may contribute as much as $2,500 within that annual cap. The accounts invest in a low-cost stock index fund and generally cannot be tapped before age 18, when they convert to a traditional IRA. Some parents told CNBC they see the accounts as a way to teach children about saving, though others said they still prefer 529 college savings plans for stronger education-related tax benefits.