The U.S. Treasury Department issued proposed guidance Thursday for eligible investments in Trump Accounts, the new tax-advantaged savings accounts for children. The rules require that eligible indices measure the performance of a broad segment of the U.S. or global equity market using objective financial criteria, while limiting investments to products with low expense ratios. Bank of New York Mellon manages these accounts, with contributions currently invested in S&P 500-tracking ETFs. The Trump Accounts app was developed in partnership with Robinhood, aiming to give American children access to the economy from birth.
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