Title page 1

Contents 3

Summary 2

Introduction 4

Description of Trump Accounts 4

Contributions 5

Ordinary Contributions 6

Tax-Advantaged Contributions 6

Eligible Investments 8

Qualified Withdrawals 9

ABLE Account Rollovers 10

Benefits of Trump Accounts and Comparison with Other Types of Accounts 10

Potential Impact of Trump Accounts on Saving Behavior and Wealth 15

Direct Effects of Tax Benefits 15

Impact on Household Savings Rates 16

Distributional Considerations 17

Interactions with Federal Means-Tested Programs 17

Author Information 19

Disclaimer 19

Tables 3

Table 1. Parameters of Selected Savings Accounts for Children During Growth Period 12

Figures 3

Figure 1. After-Tax Value of $2,500 Investment, by Account Type and Time 15