$1,000 for every baby? Trump rallies Dell, Uber & others to offer bonus — but only if his Beautiful Bill passes
Synopsis President Trump is advocating for his "One Big Beautiful Bill," proposing $1,000 investment accounts for newborns during his potential second term. Supported by executives from Dell, Uber, and Goldman Sachs, these "Trump accounts" aim to boost financial literacy and encourage larger families. If Congress passes his new "One Big Beautiful Bill", President Trump wants to give families $1,000 for every baby born during his second term.
ADVERTISEMENT Executives from three of America's largest and most well-known corporations are supporting President Trump's plan to establish investment accounts for children born during his second term as a means of persuading Congress to approve his contentious One Big Beautiful Bill Act.
Dell, Uber, and Goldman Sachs are just a few of the big companies that would be prepared to make contributions to accounts set up for their employees' children.
Alongside Trump, Goldman Sachs CEO David Solomon, Uber CEO Dara Khosrowshahi, and Dell Computer founder Michael Dell attended an event at the White House on Monday to advocate for what the bill refers to as "Trump accounts" as a means of fostering financial literacy and enticing Americans to have more children, as quoted in a report by The Independent.A $1,000 one-time donation from the federal government would open the "Trump accounts", which would be tax-deferred. Money put into the accounts would be invested to follow the stock market as a whole and be available when the kids turn 21.The whole point of it seems to raise the number of births, the level of financial literacy, and the amount of support for families. Critics say it leaves some people out, while supporters say it gives families more power.
ADVERTISEMENT Donald Trump called the business leaders "the greatest business minds we have today" and praised them for their involvement in the project.He went on to say that 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, especially if they get a little bit lucky with some of the numbers and the economies into the future, will really be getting a big jump on life, as per a report by The Independent.
ADVERTISEMENT Besides GOP Representative Blake Moore of Utah and House Speaker Mike Johnson, who praised the proposed policy as "a bold, transformative policy that gives every eligible American child a financial head start from day one", the president credited Dell, a long-time Republican donor, with introducing him to the idea of a "Trump account".
Republicans' plan, however, is based on one that has been used in states like California, Connecticut, and the District of Columbia, which have all introduced "baby bonds" that invest money for newborns that can be used for education and other purposes when they grow up.
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The One Big Beautiful Bill, a proposal from the Trump administration, would prohibit the creation of accounts for children of certain immigrant categories by requiring at least one parent to provide a Social Security number with work authorisations.
ADVERTISEMENT The "Trump account" program would be accessible to families of all income levels, in contrast to the District of Columbia's program and others like it that aim to alleviate poverty by focussing on underprivileged populations.What does the $1,000 baby bonus entail?If Trump's bill passes, each baby born during his second term will receive a $1,000 investment account.
Does every child qualify? No, at least one parent must have a Social Security number and employment authorisation.
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