"Parents or legal guardians may open accounts on behalf of eligible children ... The Act calls for the federal government to seed each Trump Account with an initial $1,000 deposit upon creation.... Contributions would be capped at $5,000 per year, adjusted for inflation.... Favorable tax treatment would apply to payment of certain 'qualified expenses,' including costs related to financing higher education, purchasing a home, or starting up a small business.... No distributions are permitted until the beneficiary turns 18, except in limited circumstances."  MORE >>