President Donald Trump is set to host an event at the White House on Monday to promote a key provision of the One Big Beautiful Bill Act, which aims to establish investment accounts for all newborn U.S. citizens. The initiative, referred to as "Trump Accounts," proposes that each child born between January 1, 2024, and January 1, 2029, will receive a $1,000 investment from the federal government. These funds would be allocated to a tax-deferred, low-cost index fund that tracks the stock market, with management by the child's guardians.
The event is expected to include participation from executives of several major companies, such as Dell, Uber, and Goldman Sachs, who plan to contribute additional funds to these accounts for their employees' children. Contributions to the account could reach up to $5,000 annually, and beneficiaries would be able to access the funds starting at age 18 for education, home purchases, or entrepreneurial endeavors.
White House press secretary Karoline Leavitt highlighted the provision as a means to significantly benefit working and middle-class families by providing substantial tax cuts and increasing the child tax credit in addition to the creation of these accounts. Supporters of the initiative, including leaders from the business sector, assert that it could provide significant financial support for future generations.
The One Big Beautiful Bill Act, which includes the "Trump Accounts" provision, has already passed through the House and is currently under Senate consideration. Should the Senate amend the bill, it will require a subsequent vote from the House before it can be signed into law by the president.