WASHINGTON (dpa-AFX) - Monday, President Donald Trump joined top business leaders and lawmakers to unveil the creation of 'Trump Accounts,' a provision in the One Big Beautiful Bill that will create tax-deferred investment accounts for all newborn American children.
Trump Accounts, which will be seeded with a one-time government contribution of $1,000, will track a stock index and allow for additional private contributions of up to $5,000 per year.
The account will be private property of the child's guardian, who also can contribute this amount every year throughout the child's life.
All children born between January 2025 and January 2029, having US citizenship are eligible to open the Trump Account under a pilot program.
At a round-table hosted by the White House, Dell Technologies pledged to contribute $1,000 each to the Trump accounts for new children of its employees.
Speaking on the occasion, Dell CEO Michael Dell said, 'We see . the establishment of these Trump Accounts as a simple yet powerful way to transform lives. Decades of research has shown that giving children a financial head start profoundly impacts their long-term success. With these accounts, children will be much more likely to graduate from college, to start a business, to buy a home, and achieve lifelong financial stability.'
Goldman Sachs CEO David Solomon said his firm is proud to support this initiative. 'This initiative gets at the core of binding those future generations to the benefits and the potential of America's great companies and markets.'
Speaker Mike Johnson described it as a bold, transformative policy that gives every eligible American child a financial head start from day one. 'Trump Accounts are all about setting up the next generation for success.'
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