Trump Announces Newborn Savings Plan: $1,000 for Every Child Born

On June 10, according to foreign media reports, on Monday local time, Trump officially announced the 'Trump Savings Account' during a roundtable meeting with CEOs from Dell, Goldman Sachs, and Uber, claiming it is one of the 'most important' components of his second term. The 'Trump Savings Account' is part of the 'Great Beautiful Act' that Trump passed in the House last month. The proposal requires the Treasury Department to provide a $1,000 investment account for children born in the U.S. between January 1, 2025, and January 1, 2029. Newborns will automatically be enrolled in the program. Parents or other account custodians can contribute up to $5,000 in after-tax funds to these accounts each year, which will be invested in index funds that track the U.S. stock market. Beneficiaries can access the funds when they turn 18. A White House official confirmed that a number of CEOs from major companies are expected to announce on Monday that they will jointly invest billions of dollars to establish 'Trump Savings Accounts' for their employees' children.