Trump to promote $1,000 ‘Trump Accounts' for newborns at WH event
President Donald Trump is set to host a roundtable at the White House Monday to promote a key feature of the sweeping Republican domestic policy bill – a provision that would provide every American newborn with a $1,000 investment account, a White House official told CNN.
The accounts, which the administration has dubbed 'Trump Accounts,' would be established for all newborn US citizen children under a pilot program included in the House-passed legislation.
The government's $1,000 contribution would be placed in an index fund tied to the overall stock market and managed by the child's legal guardians. The accounts will start at $1,000 per child and guardians or other private entities can contribute up to $5,000 additional dollars every year throughout the child's life.
'The passage of the One Big Beautiful Bill will literally change the lives of working, middle class families across America by delivering the largest tax cuts in history, increasing the child tax credit, AND by creating this incredible new 'Trump Account' program, which will put the lives of young Americans on the right financial path' said White House press secretary Karoline Leavitt.
Monday's event, taking place in the State Dining Room at the White House, will feature top executives from Dell, Uber, Altimeter Capital, ARM Corp, Salesforce, ServiceNow, Robinhood and Goldman Sachs. According to the White House official, the CEOs are expected to pledge billions of dollars in investments into Trump Accounts for the children of their employees.
'The creation of investment accounts for every child will compound into substantial nest eggs providing support for education, home ownership, and starting families. Dell Technologies will proudly match dollar for dollar the government's seed investment into these accounts for all the children born to Dell team members. This bold move to an ownership society for all included in the Reconciliation Bill will have profound and far-reaching benefits for the country,' said Dell Technologies CEO Micheal Dell, who will attend the roundtable Monday.
The roundtable comes as the Trump administration intensifies its push to secure Senate passage of the president's domestic policy package ahead of the Fourth of July.
NBC News was first to report.
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