The Treasury Department said that over 60 million children have been automatically enrolled in Trump Accounts, according to guidance filed with the Federal Register. 

"Millions of children have already enrolled in Trump Accounts. With automatic enrollment, over 60 million more eligible children now have an account ready to be claimed," Treasury Secretary Scott Bessent said in a statement.

Why are children being automatically enrolled? 

The idea behind Trump Accounts is to give children a head start on building wealth. The accounts are a new type of tax-deferred individual retirement accou...