The Treasury Department will host a summit Wednesday ahead of the rollout of the “Trump accounts,” a new program that would create government-seeded investment accounts for newborn children.

White House press secretary Karoline Leavitt, rapper Nicki Minaj, Sen. Ted Cruz, R-Texas, Rep. Jason Smith, R-Mo., and actress Cheryl Hines are expected to attend the event, The Hill reports.

“The summit marks a key milestone in the administration’s broader effort to strengthen long-term financial security, expand access to capital, and promote economic opportunity for American families,” the Treasury Department said in a release.

“Administration officials are expected to outline next steps for implementation and public engagement during the summit,” Treasury added.

Under the program, children born in the United States between Jan. 1, 2025, and Dec. 31, 2028, who have a Social Security number would receive a stock market account funded with a one-time $1,000 deposit from the Treasury.

The accounts would grow in a manner similar to individual retirement accounts, according to the IRS.

Parents or legal guardians would be allowed to begin contributing to the accounts starting July 4, 2026, with annual deposits capped at $5,000.

Treasury Secretary Scott Bessent has described the accounts as a way to give every child a direct stake in the U.S. economy.

“So, in essence, it is a trust fund. It is a piece of the American economy for every child, and they will be able to take it out when they’re 18, or they can convert it to a more IRA-type program and keep it for their retirement,” Bessent said on CBS News’s “Face the Nation.”

Bessent also emphasized the program’s potential to expand participation in financial markets.

“This is going to bring a whole group of new investors into the market,” he said. “We’re going to couple it with a big amount of financial literacy, so that children understand what they own.”