Nasdaq
华尔街日报Scott Bessent, Ted Cruz Hail $1,000 Trump Accounts For Kids: 'This Will Transform America'
President Donald Trump has launched "Trump Accounts," providing every eligible newborn in the U.S. with a $1,000 government-funded savings account to jumpstart their financial future.
Trump Accounts Provide $1,000 Starter Fund For Newborns
On Tuesday, President Trump, along with support from the Working Families Tax Cuts, unveiled "Trump Accounts," a new savings program for children born between 2025 and 2028.
Each eligible newborn will receive a $1,000 government contribution to begin their financial journey.
Treasury Secretary Scott Bessent praised the program, saying, "With additional donations and the $1,000 contribution from this administration, every eligible newborn U.S. citizen is set up for long-term financial security, giving the next generation a meaningful stake in our economy."
U.S. Treasurer Brandon Beach added that families can access the program and additional contributions beginning July 4, 2026.
"Eligible children born 2025–2028 may receive a $1,000 contribution from the United States government," Beach said.
Sen. Bill Hagerty (R-Tenn.) highlighted the program's long-term potential: "A child born today will receive $1,000 in an individual investment account, setting them up for financial security from Day 1.”
Senator Ted Cruz (R-Texas) called it a transformative step, stating, "We're creating a whole new generation of capitalists who will experience the benefit of compound growth.“
“This will transform America," he added.
Michael Dell's $6.25 Billion Gift Fuels Massive Investment In American Children
On Tuesday, Founder of Dell Technologies, Inc. (NYSE:DELL) billionaire Michael Dell posted on X that he and his wife, Susan Dell, were contributing $6.25 billion from their charitable funds to help 25 million children build a stronger financial foundation.
He wrote "$6.25 billion. 25 million children. $250 each… the smartest investment we can make is in children."
President Trump celebrated the donation on social media, calling Michael and Susan Dell "two great people."
Read Next:
Photo Courtesy: Andrew Leyden on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.