Sooner State to Provide Trump Account Contributions to Oklahoma Kids

A bill signed into law by Oklahoma Governor Kevin Stitt would provide an additional Trump account contribution for Oklahoma kids. The Oklahoma Dream Accounts Investment Program Act authorizes the State Treasurer to make a one-time $250 contribution into a Trump account of each eligible Oklahoma child, once a family applies and the account is verified. Governor Stitt stated in a press release that, “The American Dream is different for every young Oklahoman. Let’s give them the opportunity to achieve it. With Trump Accounts and this $250 investment from the state, we are putting real resources behind their future.”

Eligible individuals for a Trump account must be under age 18 in the calendar year the account is established, have a Social Security number, and be subject to an election to establish the account. Contributions to a Trump account are generally limited to $5,000 per child per calendar year for years prior to the year in which the child turns age 18. Under the Trump accounts Contribution Pilot Program, the Treasury Department is directed to provide a one-time $1,000 contribution for a U.S. citizen child born after 2024 and before 2029, if elected by the child’s parent.