After event with Nicki Minaj, Bessent announces 1 million people signed up for 'Trump accounts'

Treasury Secretary Scott Bessent claimed that more than a million people signed up to create their Trump accounts. The announcement came in the middle of the cabinet meeting, led by President Donald Trump, and just a day after the event starring performer Nicki Minaj to promote this policy.

The 'Trump accounts' offer all children born between January 1, 2025 and December 31, 2028 a private investment account with $1,000. The child's family can invest every year in a tax-advantaged vehicle to grow the money. Parents can contribute up to $5,000 a year, with the limit potentially adjusted for inflation after 2027. The program will begin on July 4, 2026.

The initiative is within the 'Big Beautiful Bill' that Trump signed last July 4, legislation that has now also acquired the name Tax Cuts for Working Families Act.

Last Wednesday, January 28, Trump, Minaj and Bessent headlined an event in Washington, D.C. to promote the bill and encourage people to sign up. The singer even pledged to donate between $150,000 and $300,000 to fund the 'Trump accounts' for her supporters. "Early financial literacy and financial support for our children will give them a major head start in life," she said.

Just a day later, the Treasury secretary confirmed the results during the cabinet meeting, "We’ve now had a million people sign up for Trump accounts just this week."

"The Trump Accounts and Next Generations America will benefit from today's record-breaking economy, record-breaking markets. (...) We think there'll be 25 million families who are eligible. The segment that you and she did has a billion hits, a billion hits on the internet," Bessent added.

In addition, the Treasury secretary highlighted the direction of the economy and promised a very prosperous 2026 for all Americans.

Sir, when we came in, the Biden administration had destroyed the American people with the three I's. Immigration, inflation, and interest rates. (...) The inflation, as we've heard, back down to the target. Prices are coming down, and interest rates, we hope there's more on the way. We've got gains in wages, low prices, and I think 2026 is going to be the year for the Trump boom. It's going to be a supply-side boom," he added.