On Monday Donald Trump unveiled a federal program called “Trump Accounts” that provides a one-time government contribution of $1,000 in tax-advantaged investment accounts for every American child born between Jan. 1, 2025 and Jan. 1, 2029–dates that notably coincide only with the years of the Trump presidency. The president said these accounts will be managed by legal guardians, monitor stock market performance and allow additional private contributions of up to $5,000 per year.
The initiative, dubbed pro-family, aims to provide a financial benefit to America’s children and has won the support of major corporate leaders such as those at Uber, Goldman Sachs, Dell Technologies, and Robinhood, who pledged billions of dollars for their employees’ children’s accounts during a panel discussion held at the White House.
The program was included in a massive budget bill passed by the House, but it is meeting resistance in the Senate and cannot be implemented independently, depending on the passage of the so-called “big beautiful bill,” which also includes welfare reforms and a remittance tax proposal. However, the Congressional Budget Office (CBO) has estimated that this bill would increase the national debt by $2.4 trillion over the next decade and cut programs such as Medicaid and food assistance, leaving millions of Americans without health care by 2034.
Mike Johnson, spokesman for the House, called the program a bold and transformative policy that provides a financial benefit to every eligible American child.
