Dance and American Culture

Last year, Congress established 530A tax-advantaged investment accounts for children under the age of 18. These accounts are now open and eligible children born between January 1, 2025 and December 31, 2028 receive a $1000 contribution from the federal government. This August, philanthropists Michael and Susan Dell gave $6.25 billion to supercharge these so-called Trump accounts, $250 goes into the accounts of the first 25 million children who have an account, are 10 and under and live in qualifying zip codes. Two hundred and fifty dollars was deposited into our children’s 530A Trump accounts.

However, as of July 2026, less than 10% of children eligible to open an account actually had an account. Too many of those who are economically worst off have not opened these 530a accounts. Research shows that families with higher incomes, older people, men and white people are more likely to be aware of this opportunity compared to families with lower incomes who are younger, women and Black and Latino. Given the historical, persistent racial and growing economic wealth gap, opportunities to build wealth should not be overlooked.