Trump gets Dell, Uber, Goldman Sachs to pay Americans $1K for each baby born — if ‘beautiful bill' passed
Dell Computer founder Michael Dell, Uber CEO Dara Khosrowshahi, and Goldman Sachs boss David Solomon appeared at the White House on Monday alongside Trump for an event to promote what the bill labels 'Trump accounts' as a way of promoting financial literacy and encouraging Americans to have more children.
Each announced that their respective companies would be willing to contribute to accounts established for children of their employees. The 'Trump accounts' would be tax-deferred and would start with a one-time contribution of $1,000 from the federal government.
Funds deposited into the accounts would be invested to track the overall stock market and be accessible when the children reach age 21.
Trump hailed the business leaders for participating in the project, calling them 'the greatest business minds we have today.'
'These men and women lead large, successful companies, and they're committed to contributing millions of dollars to the Trump account. And it's really it's going to be something incredible for children and for their employees in many cases,' he said.
'This is a pro family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation, and they'll really be getting a big jump on life, especially if we get a little bit lucky with some of the numbers and the economies into the future,' he added.
The president credited Dell, a longtime Republican donor, with having brought the 'Trump account' concept to his attention, as well as GOP Representative Blake Moore of Utah and House Speaker Mike Johnson, the latter of whom hailed the proposed policy as ' a bold, transformative policy that gives every eligible American child a financial head start from day one.'
But the plan Republicans have adopted actually follows one that has been implemented in places such as California, Connecticut and the District of Columbia — each of which has introduced 'baby bonds' which invest funds for newborns that are available when they reach adulthood for education and other purposes.
The idea dates back to 2010 as an academic proposal for reducing wealth inequalities and breaking cycles of poverty, and it was the centerpiece of New Jersey Senator Cory Booker's short-lived 2020 presidential campaign.
The Trump administration proposal included in the One Big Beautiful Bill Act would require at least one parent to produce a Social Security number with work authorizations, which would prevent children of some categories of immigrants from having accounts established for them.
Unlike the District of Columbia's program and similar ones that are intended to reduce poverty by targeting disadvantaged groups, the 'Trump account' program would be available to families of all incomes.
Dell, the veteran entrepreneur and home computer pioneer, said his company was 'proud to be one of the very first companies' to support the proposal.
'Following your inspiring lead, Mr. President, Dell Technologies will match the government's contributions dollar for dollar for every child born to a Dell team member,' Dell said.
'This isn't just a new benefit. This is investment in our people, their families, our communities and America's future, and it embodies our core belief that opportunity should begin at birth.'
He added that he and his wife 'expect to make a very significant gift' through his family's foundation to support the plan, calling it 'a powerful platform for Philanthropic Innovation aimed at helping children thrive wherever they come from, particularly those families who historically left behind.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
20 minutes ago
- The Independent
Abrego Garcia's lawyers want smuggling charges dismissed on grounds of vindictive prosecution
Lawyers for Kilmar Abrego Garcia asked a federal judge on Tuesday to dismiss a human smuggling case against him, saying the government was prosecuting the Maryland construction worker to punish him for challenging his removal to El Salvador. Their motion filed in court said attempts to dismiss indictments on the grounds of 'selective or vindictive prosecution' are infrequent and rarely succeed, 'but if there has ever been a case for dismissal on those grounds, this is that case.' The attorneys said senior cabinet members, Justice Department leaders and President Donald Trump mounted unprecedented public attacks on Abrego Garcia and that 'vindictiveness is clear from the record.' Acting U.S. Attorney Robert E. McGuire in Tennessee, where Abrego Garcia is in jail, said in an email prosecutors would have no other comment beyond what they file in response to the motion. No prosecutor motion was filed as of late Tuesday. Abrego Garcia became a prominent face in the debate over Trump's immigration policies following his wrongful expulsion to El Salvador in March. Trump's administration violated a U.S. immigration judge's order in 2019 that shields Abrego Garcia from deportation to El Salvador because he likely faces threats of gang violence there. The administration claimed Abrego Garcia was in the MS-13 gang, although he wasn't charged and has repeatedly denied the allegation. Facing mounting pressure and a U.S. Supreme Court order, the Trump administration returned Abrego Garcia to the U.S. in June to face the smuggling charges, which his attorneys have called 'preposterous.' Tuesday's motion alleged the government was trying to paint Abrego Garcia as a criminal to punish him for challenging his removal to El Salvador and to avoid 'the embarrassment of accepting responsibility for its unlawful conduct." The motion said the government also aimed to change public opinion about Abrego Garcia's deportation. Abrego Garcia's attorneys asked the court at least to order a hearing on the government's motives. The smuggling case stems from a 2022 traffic stop for speeding, during which Abrego Garcia was driving a vehicle with nine passengers. Police in Tennessee suspected human smuggling, but he was allowed to drive on. A federal judge in Maryland last month prohibited the Trump administration from taking Abrego Garcia into immediate immigration custody if he's released from jail. The judge ordered the government to provide three business days notice if Immigration and Customs Enforcement intends to initiate deportation proceedings against him.
The Guardian
20 minutes ago
- The Guardian
Texas Democrats tear ‘permission slips' imposed by Republican house speaker
Texas Democrats are tearing up 'permission slips' they signed in order to leave the chamber, joining state representative Nicole Collier ahead of Wednesday's vote on the controversial Texas congressional redistricting maps. The slips are part of new surveillance protocols set by Texas Republicans in the house chamber, stating that Democrats would 'be granted written permission to leave only after agreeing to be released into the custody of a designated [Texas department of public safety] officer' who would ensure their return to the chamber. The move follows a two-week quorum break that had delayed Republicans' effort to redraw the state's congressional districts to align with Donald Trump's push to reshape the US House map in his favor before the 2026 midterm elections. On Tuesday, Collier chose to remain confined inside the Texas house chamber until lawmakers reconvene on Wednesday, refusing to comply with what she condemned as a 'demeaning' protocol. Collier was among dozens of Democrats who left the state for the Democratic havens of California, Illinois, Massachusetts and New York to delay the Republican-controlled legislature's approval of redrawn congressional districts sought by Trump. When they returned Monday, Republicans insisted that Democrats have around-the-clock police escorts to ensure they wouldn't leave again and scuttle Wednesday's planned House vote on a new political map. But Collier wouldn't sign what Democrats called the 'permission slip' needed to leave the house chamber, a half-page form allowing Department of Public Safety troopers to follow them. She spent Monday night and Tuesday on the house floor, where she set up a livestream while her Democratic colleagues outside had plainclothes officers following them to their offices and homes. Linda Garcia, a Dallas-area representative, said she drove three hours home from Austin with an officer following her. When she went grocery shopping, he went down every aisle with her, pretending to shop, she said. As she spoke to the Associated Press by phone, two unmarked cars with officers inside were parked outside her home. 'It's a weird feeling,' she said. 'The only way to explain the entire process is: it's like I'm in a movie.' The trooper assignments, ordered by Dustin Burrows, the Republican house speaker, was another escalation of a redistricting battle that has widened across the country. Trump is pushing GOP state officials to tilt the map for the 2026 midterms more in his favor to preserve the GOP's slim house majority, and Democrats nationally have rallied around efforts to retaliate. Gene Wu, the house minority leader from Houston, and Vincel Perez, a state representative of El Paso, stayed overnight with Collier, who represents a minority-majority district in Fort Worth. On Tuesday, more Democrats returned to the Capitol to tear up the slips they had signed and stay on the house floor, which has a lounge and restrooms for members. Cassandra Garcia Hernandez, a Dallas-area representative, called their protest a 'slumber party for democracy' and said Democrats were holding strategy sessions on the floor. 'We are not criminals,' Penny Morales Shaw, a Houston representative, said. Collier said having officers shadow her was an attack on her dignity and an attempt to control her movements. Burrows brushed off Collier's protest, saying he was focused on important issues, such as providing property tax relief and responding to last month's deadly floods. His statement Tuesday morning did not mention redistricting and his office did not immediately respond to other Democrats joining Collier. 'Rep Collier's choice to stay and not sign the permission slip is well within her rights under the house rules,' Burrows said. Under those rules, until Wednesday's scheduled vote, the chamber's doors are locked, and no member can leave 'without the written permission of the speaker'. To do business Wednesday, 100 of 150 House members must be present. The GOP plan is designed to send five additional Republicans from Texas to the US House. Texas Democrats returned to Austin after Democrats in California launched an effort to redraw their state's districts to take five seats from Republicans. Democrats also said they were returning because they expect to challenge the new maps in court. Republicans issued civil arrest warrants to bring the Democrats back after they left the state 3 August, and Greg Abbott, the Republican governor, asked the state supreme court to oust Wu and several other Democrats from office. The lawmakers also face a fine of $500 for every day they were absent. Democrats reported different levels of monitoring. Armando Walle, a Houston representative, said he wasn't sure where his police escort was, but there was still a heightened police presence in the Capitol, so he felt he was being monitored closely. Some Democrats said the officers watching them were friendly. But Sheryl Cole, an Austin representative, said in a social media post that when she went on her morning walk Tuesday, the officer following her lost her on the trail, got angry and threatened to arrest her. Garcia said her nine-year-old son was with her as she drove home and each time she looked in the rearview mirror, she could see the officer close behind. He came inside a grocery store where she was shopping with her son. 'I would imagine that this is the way it feels when you're potentially shoplifting and someone is assessing whether you're going to steal,' she said. Associated Press contributed to this report
Reuters
20 minutes ago
- Reuters
Trump targets the Smithsonian again, says it focuses too much on how bad slavery was
WASHINGTON, Aug 19 (Reuters) - U.S. President Donald Trump suggested on Tuesday he will pressure the Smithsonian Institution - a premier museum, education and research complex for U.S. history and culture - to accept his demands, just like he did with colleges and universities by threatening to cut federal funding. In a social media post, Trump complained about what he called excessive focus on "how bad Slavery was." "I have instructed my attorneys to go through the Museums, and start the exact same process that has been done with Colleges and Universities where tremendous progress has been made," Trump said on Truth Social. The Smithsonian, which was established in 1846 and includes 21 museums and galleries and the National Zoo, had no immediate comment. Most of its museums are in Washington, D.C. The White House said last week it will lead an internal review of some Smithsonian museums after Trump earlier this year accused it of spreading "anti-American ideology" and raised alarm among civil rights advocates. When asked if Trump would threaten funding cuts to the Smithsonian based on the findings, a White House official said "President Trump will explore all options and avenues to get the Woke out of the Smithsonian and hold them accountable." Trump wrote: "The Smithsonian is OUT OF CONTROL, where everything discussed is how horrible our Country is, how bad Slavery was, and how unaccomplished the downtrodden have been — Nothing about Success, nothing about Brightness, nothing about the Future." The Smithsonian receives most of its budget from the U.S. Congress but is independent of the government in decision-making. Civil rights advocates say Trump's administration is undoing decades of social progress and undermining the acknowledgment of critical phases of American history. Racial justice group Black Lives Matter said on X that Trump's post showed that he wanted to lock the country in a "fairytale" and deny the atrocities of slavery. Trump has made threats to cut federal funding of top U.S. educational institutions, citing pro-Palestinian protests against U.S. ally Israel's war in Gaza, transgender policies, climate initiatives and diversity, equity and inclusion programs. Last month, the government settled its probes with Columbia University, which agreed to pay $221 million, and Brown University, which said it will pay $50 million. Both institutions accepted certain government demands. Talks to settle with Harvard University are ongoing.
