(NewsNation) — President Donald Trump’s “big, beautiful bill” has touched on several facets he feels will help the American people presently and in the future, including investing in the country’s youth.
Trump on Monday plans to highlight the Invest America Act and “Trump Account,” in which the federal government would make a one-time contribution of $1,000 into a tax-deferred, low-cost index fund account that will track the overall stock market to every U.S. citizen born between Dec. 31, 2024, and Jan. 1, 2029.
Trump said the accounts will be fully funded through targeted reforms of the bill, such as the $1.7 trillion in mandatory savings and welfare reforms.
“Every working American understands the principle behind this concept that we are discussing today,” said House Speaker Mike Johnson. “If you have a $401K, you understand the power of investing early in the future. Trump Accounts takes that same principle and they apply it from the very beginning of Americans’ lives.”
The accounts will be private property controlled by the child’s guardians. Johnson added that the initiative could be a total game-changer for parents and their kids. One of the benefits of the program would be that a typical American family with two children would see their take-home pay increase by $13,300 a year.
“It could be the difference,” he says. “It could pave the way for paying their way through college, buying their first home, or starting a business even when they’re young.”
Several business leaders — including those from Dell, Uber and Goldman Sachs — have announced billions of dollars in collective investments into “Trump Accounts” for the children of their employees.
“We see the Invest America Act and the establishment of these Trump Accounts as a simple, yet powerful way to transform lives,” said Micheal Dell, Dell Technologies CEO. “Decades of research have shown that giving children a financial headstart profoundly impacts their long-term success.”
The accounts will begin at $1,000 per child, with the opportunity to contribute an additional $5,000 yearly throughout the child’s life.