Sen. John Fetterman (D-Pa.) said Monday he plans to open accounts for all three of his children under President Trump’s investment initiative, known as “Trump accounts,” despite having voted against the legislation that created them.
Fetterman’s children, ages 12, 14, and 17, do not qualify for the $1,000 seed deposit from the Treasury, which is only available for children born between Jan. 1, 2025, and Dec. 21, 2028. However, they remain eligible for accounts that can receive contributions from parents, employers, and qualifying philanthropic gifts.
Private Sector and Philanthropic Support
The Michael & Susan Dell Foundation has pledged a $250 deposit for children aged 10 or younger in ZIP codes with median household incomes of $150,000 or less. Dalio Philanthropies committed an additional $250 per child for roughly 300,000 children in Connecticut. Companies including Uber, Dell, Goldman Sachs, and Altimeter have also set aside billions to invest in accounts for employees who become new parents.
The tax-free accounts, established under the One Big Beautiful Bill Act, are designed to help children save for a home, education, or starting a business once they turn 18.
Fetterman’s Shift and Call to Action
Fetterman originally voted against the legislation but has since become a vocal supporter. Speaking at a youth basketball camp alongside Sen. Dave McCormick (R-Pa.), Fetterman urged parents to get involved. “I am begging your parents to get involved in this,” he said, according to the Philadelphia Inquirer. “It’s about all of your futures.”
The senator warned against letting partisan politics prevent families from benefiting. “Do not fall into that political trap,” he said. “This isn’t some radical thing… Do this for your child.”
The initiative has also drawn support from celebrities like Nicki Minaj and Erika Kirk, widow of conservative activist Charlie Kirk, who have promised to sponsor contributions. Twenty-three Republican states have committed to allowing foster children to enroll through child welfare agencies, a push backed by first lady Melania Trump and the Treasury.
President Trump has endorsed the effort, saying foster children deserve “the same chance at asset ownership and long-term wealth as every other child.” The accounts went live in late March, with the first $1,000 seed deposits for eligible children scheduled for Saturday.
Critics note the program’s tight eligibility window and the irony of a Democrat who opposed the bill now championing it. But Fetterman’s embrace underscores the bipartisan appeal of policies that promise to build wealth for the next generation.
