"A pro-family initiative": Trump launches $1,000 investment accounts for minors

The Trump Administration introduced a "pro-family" initiative to provide a $1,000 tax-deferred investment account for all minors born between Jan. 1, 2025, and Dec. 31, 2028, to be managed by their parents or legal guardians.

President Donald Trump made public his program, which he called Trump Accounts, during a meeting with a group of top executives who did not hesitate to endorse it. It would be part of the Republican leader's Big and Wonderful Bill.

"They’ll really be getting a big jump on life, especially if we get a little bit lucky with some of the numbers and the economies into the future," Trump said. Apart from that, he claimed the program is "a pro-family initiative that will help millions of Americans."

"In addition to the substantial financial benefits of investing early in life, extensive research shows that children with savings accounts are more likely to graduate high school and college, buy a home, start a business and are less likely to be incarcerated," he added.

"A powerful way to transform lives"

Executives who joined the president to endorse his proposal included Dell CEO Michael Dell; Altimeter Capital CEO Brad Gerstner; ARM Corp CEO Rene Haas; Salesforce co-founder Parker Harris; ServiceNow CEO William McDermott; Uber CEO Dara Khosrowshahi; Goldman Sachs CEO David Solomon; and Robinhood CEO Vladimir Tenev.

"We see ... the establishment of these Trump Accounts as a simple yet powerful way to transform lives," Dell said. "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."

"This initiative gets at the core of binding those future generations to the benefits and the potential of America’s great companies and markets. Early childhood investments have far-reaching benefits, and Goldman Sachs is proud to support his initiative … Our economy’s future vitality is dependent on young people understanding the power of investing for the long term," Solomon opined.

The Trump Bills initiative will only go forward if Congress ends up passing the Great and Wonderful Bill, which is currently in the hands of the Senate. The president's intention is to get it to his desk for signature by July 4.