$1,000 seed deposits for some babies’ Trump Accounts have yet to arrive weeks after parents enrolled, even as President Donald Trump promotes the program in Georgia on Wednesday.
Treasury said the lag is standard processing, comparing it to a tax refund, and said the overwhelming majority of parents wait only one to two days despite some being quoted timelines of up to four weeks.
The accounts, launched July 4, offer tax-advantaged investing for children under 18, with 1.5 million children eligible for the $1,000 payment among 6.5 million sign-ups, according to Treasury.
Trump is pitching the program as a way to broaden stock-market ownership, but critics say it provides no immediate help in early childhood and comes after his signature bill cut Medicaid and food-aid funding used by children.