On June 9, President Donald Trump held a speech at the White House to promote the provision of giving every newborn in the US an investment account worth 1,000 USD.
This is considered one of the key points in the domestic policy bill of the Republican Party.
These accounts, called Trump Accounts, will be created for all children who are US citizens born between January 2025 and January 2029 under a pilot program in a bill passed by the US House of Representatives.
The $1,000 from the government will be invested in an index fund associated with the general stock market and managed by the child's guardian.
Each account starts with 1,000 USD and the guardian or private organization can contribute up to 5,000 USD per year throughout the child's life.
White House press secretary Karoline Leavitt said that the newly passed bill, called Beautiful Law, will change the lives of working-class and middle-class families across the US by bringing the largest tax cut in history, increasing tax credits for children.
Ms. Leavitt emphasized that the Trump Account program will help put American children on the right financial path.
At the event on June 9, Speaker Mike Johnson also turned on the economic benefits of "Trump Accounts", including increasing net income for typical families and reducing procedures for small businesses.
The event took place at the White House, with the participation of leading leaders from Dell, Uber, Altimeter Capital, ARM Corp, Salesforce, Service Now, Robinhood and Goldman Sachs. The CEOs plan to commit billions of dollars in Trump Accounts for their employees children.
