Do We Really Need Half-a-Dozen New Savings Accounts?

Adam N. Michel

In the 2025 One Big Beautiful Bill Act, Congress created a new kind of trust called a Trump Account. It is being pitched as a free-market way to give every child a financial head start. In reality, the accounts offer only limited additional tax benefits compared to existing personal savings options and are wrapped in complex rules that will discourage widespread use. Their primary function is not to expand personal savings but to accept government transfers, employer contributions, and other third-party funds.