Funded by private companies, the accounts will be placed in stock index funds and managed by guardians. Contributions from family, employers, and others are also allowed.
President Donald Trump has unveiled a proposal to offer $1,000 investment accounts to all U.S. citizens born between January 1, 2025, and December 31, 2028.
Dubbed “Trump accounts,” the initiative is part of his “big beautiful bill” currently under Senate debate.
“These accounts will make it possible for countless American children to have a strong start in life at no cost to the American taxpayer,” Trump said at a White House event Monday.
Funded by private companies, the accounts will be placed in stock index funds and managed by guardians. Contributions from family, employers, and others are also allowed. Children can access a portion of the funds at age 18 and the full balance at 30.
Major CEOs, including Michael Dell, have pledged support. “This is investment in our people… and it embodies our core belief that opportunity should begin at birth,” Dell said.
Critics warn the bill could harm Medicaid and increase the federal deficit. The Senate may amend the legislation before it returns to the House. Trump hopes to sign it by July 4. His grandson, Alexander Trump Boulos, may be among the beneficiaries.