Trump's Invest America Accounts to Offer $1,000 Government Seed for USVI Children

Children born in the U.S. Virgin Islands and across America stand to participate in a new federal savings initiative known as Invest America Accounts — informally referred to as “Trump Accounts” — which provides a $1,000 government-funded deposit into tax-advantaged savings plans designed to build long-term wealth. The program, created through the Tax Cuts 2.0 legislation signed by President Donald Trump in July, applies to all U.S. citizen children. That includes those born in U.S. territories such as the USVI. According to the program outline, the accounts will become available to eligible children once they receive a Social Security number, covering those born from January 1, 2025, through December 31, 2028. The Treasury Department will oversee the accounts, automatically depositing the initial $1,000 and allowing families to contribute up to $2,500 in pre-tax funds each year. Treasury Secretary Scott Bessent has described the accounts as a “jumpstart to the American Dream,” saying...