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Trump promotes $1,000 ‘Trump Accounts’ for newborns at White House event

President Trump introduced a program called the Trump savings accounts during a White House roundtable on Monday, proposing $1,000 investments for newborns born between 2025 and 2028.
This plan, part of the Big Beautiful Bill that passed the House last month, requires Senate approval to become law and has drawn mixed reactions from lawmakers.
The accounts would be tax-deferred, seeded with $1,000 from the Treasury, allow up to $5,000 more in annual contributions, and enable withdrawals for education, home purchase, or business startup.
Trump called it a “pro-family initiative” to help the next generation, while CEOs from Uber, Goldman Sachs, and Dell pledged millions in private contributions should the bill pass.
If enacted, the program would cost $3.6 billion initially and aims to provide young Americans an early financial start through compound growth of invested funds.

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How The $1,000-Per-Baby ‘Trump Accounts’ Would Affect IL Parents

How The $1,000-Per-Baby 'Trump Accounts' Would Affect IL Parents - Across Illinois, IL - See what Illinois parents need to do to take advantage of the tax-deferred investments.

2 days ago·United States

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What experts think about the $1,000 'Trump accounts' for babies

The proposal has bipartisan backing and is generally supported by economists and other researchers, but experts say that there are ways it could be restructured that are more practical and would have a greater effect on wealth inequality.

2 days ago·Washington, United States

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