Internal Revenue Service chief executive officer Frank Bisignano said Thursday he wants every eligible American family to enroll their children in Trump Accounts, outlining a long-term goal of expanding the program to all 70 million children under age 18.
Speaking on CNBC's Squawk Box, Bisignano said the government is working to simplify enrollment and broaden access through partnerships with tax-preparation companies and banks.
Trump Accounts are tax-deferred investment accounts created under President Donald Trump's One Big Beautiful Bill Act. Eligible children born between Jan. 1, 2025, and Dec. 31, 2028, receive a one-time $1,000 contribution from the U.S. Treasury, while families, employers and other contributors can add up to $5,000 annually.
Enrollment Push
"We have the ability to enroll people very simply, and I think the objective is to have 70 million children under 18 to have a Trump Account," Bisignano said.
According to a July 10 tally from the U.S. Treasury Department, about 6.5 million children have already been enrolled in the program. "We should have every family enrolled in a Trump Account," Bisignano said. He added that the government has been working with tax-preparation companies and is also exploring distribution through banks to make enrollment easier. "It's a technology business, really, and I think we're going to make it simple for people to enroll."
The comments come as economist Justin Wolfers on Thursday called the White House's Trump Account projections "ridiculous, dishonest and deeply misleading," saying the headline figures rely on decades of contributions, optimistic stock return assumptions and future dollars that are not adjusted for inflation. He also argued the accounts could disproportionately benefit higher-income households through their tax advantages.
Private Support Grows
Bisignano said financial incentives should help accelerate participation, including the $1,000 federal contribution for eligible newborns, employer matching programs and philanthropic donations such as those pledged by Michael and Susan Dell. He said those factors give him confidence that the program can eventually reach its 70 million-account goal.
The program has continued to gain momentum since launching earlier this month. Robinhood Markets Inc. (HOOD) CEO Vlad Tenev recently said enrollment growth had outpaced customer growth at many of America's largest technology companies as the program approached 6 million sign-ups.
Altimeter Capital founder and CEO Brad Gerstner, who helped spearhead the initiative, has also said Trump Accounts could attract more than $100 billion in additional private commitments over the next year, citing growing support from businesses and philanthropists. Michael and Susan Dell have pledged $250 for each of the first 25 million qualifying children, while several companies have announced employer-matching programs.
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