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Trump Accounts Under the Big Beautiful Bill: Do Federal Seed Contributions to Private Child IRAs Align with the General Welfare Clause?
Introduction to Trump Accounts and the General Welfare Clause On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBA). Within the almost 1,000 pages of text sits the Trump Accounts : a one-time $1,000 federal contribution into accounts for children born between 2025 and 2028. To apply, parents must elect their children on their tax forms. These IRA-style investment accounts are initially seeded by a federal contribution. Following the initial seed, they
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