Press ReleaseNeutral2026-07-17

Investing in American Children

Taxes

Context

This press release from Senator Deb Fischer (R-NE) was published on 2026-07-17 and titled "Investing in American Children".

Full Text

Investing in American Children

Earlier this month, Nebraska families gained access to one of the most significant investments in the next generation that Washington has made in years. On July 4, 2026, tax-advantaged federal child savings accounts - known as Trump Accounts - became available to every U.S. citizen under the age of 18. For parents across our state, this opens a new avenue for building long-term financial security for their kids, starting from day one. Here's how it works. Babies born between January 1, 2025, and December 31, 2028, qualify for a one-time $1,000 contribution from the U.S. Treasury. Babies born before or after that timeframe are still eligible for an account, though they won't receive the initial $1,000 deposit from the Treasury. Left alone, that money will keep growing over time - no additional contributions required. But parents, relatives, and even employers can add up to $5,000 a year on top of that. The funds are invested in American companies, meaning the accounts grow alongside our economy while helping fuel it. Parents oversee the account until their child turns 18. After that, the money can go toward education, a first home, or simply keep growing toward retirement. I was proud to support this policy, which became law through the Working Families Tax Cuts, signed by the president last summer. I encourage every Nebraska parent to visit trumpaccounts.gov and look into signing up. You can open a Trump Account for an eligible child using IRS Form 4547 - filed through the Trump Accounts app, submitted with your tax return, or completed through the IRS's online portal. The Trump Accounts app is free to download on the Apple App Store and Google Play. It lets you check your child's balance, track earnings, and see projections showing how even modest contributions today can add up over the years. You can manage accounts for all your children in one place and make deposits in seconds. Anyone with questions can call the Trump Account call center at 866-USA-4547. This is a pro-family initiative built to help millions of American households put the strength of our economy to work for the next generation. Nebraska's kids deserve that kind of head start in life. I could not be more proud to have supported this generational investment in our young people. Thank you for participating in the democratic process. I look forward to visiting again with you next week.

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Investing in American Children Earlier this month, Nebraska families gained access to one of the most significant investments in the next generation that Washington has made in years. On July 4, 2026, tax-advantaged federal child savings accounts - known as Trump Accounts - became available to every U.S. citizen under the age of 18. For parents across our state, this opens a new avenue for building long-term financial security for their kids, starting from day one. Here's how it works. Babies born between January 1, 2025, and December 31, 2028, qualify for a one-time $1,000 contribution from the U.S. Treasury. Babies born before or after that timeframe are still eligible for an account, though they won't receive the initial $1,000 deposit from the Treasury. Left alone, that money will keep growing over time - no additional contributions required. But parents, relatives, and even employers can add up to $5,000 a year on top of that. The funds are invested in American companies, meaning the accounts grow alongside our economy while helping fuel it. Parents oversee the account until their child turns 18. After that, the money can go toward education, a first home, or simply keep growing toward retirement. I was proud to support this policy, which became law through the Working Families Tax Cuts, signed by the president last summer. I encourage every Nebraska parent to visit trumpaccounts.gov and look into signing up. You can open a Trump Account for an eligible child using IRS Form 4547 - filed through the Trump Accounts app, submitted with your tax return, or completed through the IRS's online portal. The Trump Accounts app is free to download on the Apple App Store and Google Play. It lets you check your child's balance, track earnings, and see projections showing how even modest contributions today can add up over the years. You can manage accounts for all your children in one place and make deposits in seconds. Anyone with questions can call the Trump Account call center at 866-USA-4547. This is a pro-family initiative built to help millions of American households put the strength of our economy to work for the next generation. Nebraska's kids deserve that kind of head start in life. I could not be more proud to have supported this generational investment in our young people. Thank you for participating in the democratic process. I look forward to visiting again with you next week.