More than 300 of the president’s supporters, including representatives from Microsoft, Meta, and several Republican economic interest groups, gathered for a reception in the Treasury Department’s Cash Room on Tuesday to toast the program and the president’s 2025 tax cuts.

Treasury Secretary Scott Bessent delivered brief remarks at the reception, where he claimed that the Trump Accounts are “the most important benefit for young people since the G.I. Bill,” earning a thunderous round of applause.

Conservative economists Stephen Moore and Arthur Laffer both spoke ahead of Bessent, the latter of whom jovially worked the room before speeches began while wearing red, white, and blue beads and a light-up star medallion.

After being asked by the Washington Examiner about his colorful accessories, the diminutive Laffer joked that when one is his height, you’ve “got to do what you can to stand out in a crowd.”

The launch itself comes exactly one year after President Donald Trump signed into law the One Big Beautiful Bill Act, which contained several tax and spending provisions. The idea of Trump Accounts is perhaps the one that has received the most bipartisan praise.

Trump Accounts are tax-deferred investment savings accounts designed for children, to which parents, family members, and others can contribute money. The funds can be tapped into after the beneficiary turns 18.

What’s more, the government is actually giving newborns money as part of the plan.

For babies born between Jan. 1, 2025, and Dec. 31, 2028, the government will deposit $1,000 into each Trump Account. That $1,000 cannot be touched until the beneficiary turns 18. According to the Treasury, 1.4 million Trump Accounts that have been claimed so far will be eligible for the $1,000 federal seed investment.

Parents, grandparents, and others can contribute up to $5,000 per year up until the year before the child turns 18.

Also, several companies have said they will match the government’s $1,000 contribution for eligible children. And employers of children, or a child’s parent, may contribute up to $2,500 per year to the accounts.

Additionally, Dell CEO Michael Dell and his wife, Susan, announced a $6.25 billion philanthropic gift to the Trump Accounts fund that will give an additional $250 to the first 25 million children age 10 and under living in ZIP codes with median incomes below $150,000.

New Trump Accounts can be created by visiting trumpaccounts.gov and filling out IRS Form 4547. Kevin Hassett, the director of the White House’s National Economic Council, said earlier this week that the administration is exploring automatic enrollment into a Trump Account for babies born during Trump’s term, but Treasury officials declined to answer questions about the timeline for standing up that process.

The app itself rolled out in the Apple and Google stores back in May, but users gained access to each account’s specific market allotments on Saturday. Users can also begin contributing personally on Saturday, according to senior Treasury officials, with initial contributions being “invested in the lowest cost S&P 500 index fund available,” until individual indexing options are made available in the coming months.

Furthermore, Treasury officials announced Thursday that “large philanthropic contributions of readily tradable public company stocks will be accepted to support Trump Accounts.”

“Under this due process, eligible philanthropic contributors may transfer approved publicly traded stock to Treasury,” a Treasury official explained. “The stock will be allocated to Trump Accounts for eligible children consistent with the donor’s instruction, applicable law, and treasury guidance.”

The Trump administration has argued that the accounts could help create financial literacy in younger people and will roll out new financial literacy education programs for Trump Account owners and the general public after the app launches on Saturday.

To mark the launch, next week the New York Stock Exchange and the Nasdaq will open from the White House, according to Hassett.

BANK OF AMERICA AND JPMORGAN CHASE AGREE TO MATCH $1,000 CONTRIBUTION TO ‘TRUMP ACCOUNTS’

“We’re having a big opening bell ceremony next week where Nasdaq and the New York Stock Exchange are going to ring the bell from the Oval for the first time together, and they’re doing that to celebrate the accounts,” Hassett said on CNBC.

And there has apparently been a lot of interest in the program. Bessent said that some 6 million Trump Accounts have already been opened, and the administration has celebrated the initiative repeatedly over the past year.