India, Feb. 22 -- More than 1 million people have already signed up for the new Trump accounts following a major publicity push by the White House even before the official July launch.

The federal government has said it will make a one-time $1,000 contribution into the accounts of all eligible children born on or after January 1, 2025, through December 31, 2028.

In addition, a growing number of companies have pledged to match the Treasury's deposit for children of employees. Philanthropists in multiple states have also committed to seed accounts for certain qualifying families.

"The president has called on business leaders and philanthropists all around the country to get involved in the initiative," Treasury Secretary Scott Bessent sa...