President Donald Trump on Wednesday hailed his new "Trump Accounts" initiative, saying that for the first time, American children will have a "financial stake in the future and a fair shot at the American dream."
Trump, speaking at a U.S. Treasury event that brought together politicians and celebrities to discuss the program, said Trump Accounts would automatically provide every American child born after Jan. 1, 2025, with a tax-free investment account seeded by the federal government and expanded through additional private contributions.
"Under this program, the U.S. Government will automatically create a tax-free investment account for every newborn American child," Trump said.
"We'll fund those personal accounts with a contribution of $1,000, which will compound and grow over the course of their lives and could grow into very, very substantial numbers," he added.
Under the program, every child born in the United States will receive a $1,000 government-seeded investment account, with parents able to activate and manage the accounts beginning July 4 at Trumpaccounts.gov.
The accounts are designed to grow over time and can be supplemented by families, employers, philanthropists, and corporations.
Trump said additional contributions would be permitted from a wide range of sources.
"Parents, employers, churches, states, and loved ones will also be able to add up to $5,000 in additional money for those accounts," he said.
He projected that the accounts could grow significantly by the time a child reaches adulthood.
"With every modest contribution, Trump accounts should reach at least $50,000 in value by the time the child turns 18, and could be very substantially more than that," Trump said. "With slightly greater contributions, the typical account will grow to $100,000, $200,000, and can even grow up to past $300,000 per child."
Trump described the proposal as a lasting policy achievement and contrasted it with what he said past administrations left behind.
"That's why, decades from now, I believe the Trump Accounts will be remembered as one of the most transformative policy innovations of all time," Trump said.
"Every president in modern history has left our children with nothing but debt. But under this administration, we're going to leave every child with real assets and a shot at financial freedom."
Trump also highlighted private-sector backing for the program, praising a major donation tied to the nation's upcoming 250th anniversary.
"I want to express my tremendous gratitude to a very special couple who believe so strongly in this vision, right from the beginning, that they personally donated $6.25 billion," Trump said. "That's Michael and Susan Dell."
He said the contribution would expand the program's reach.
"Michael and Susan made this donation in recognition of America's 250th anniversary," Trump said, adding that it would "fund Trump Accounts for an additional 25 million children aged ten and under."
Trump called the donation historic.
"This is perhaps the largest, one of the largest certainly, but perhaps the largest private donation of all time," he said. "There's no better way to honor America's history than to invest in America's future."
Trump said private individuals in all 50 states have committed to making additional contributions.
He singled out hedge fund founder Ray Dalio, who pledged to fund accounts for children in Connecticut, and investor Brad Gerstner, who committed $250 for every child under age five in Indiana, along with tens of millions of dollars in matching contributions nationwide.
Trump also gave shoutouts to several key audience members, including Sens. Ted Cruz and Marsha Blackburn, and one celebrity, rapper Nicki Minaj.
He also praised Treasury Secretary Scott Bessent for backing the Trump Accounts concept early, saying Bessent reacted enthusiastically when he first saw it and viewed it as a program that could grow into "hundreds of thousands of dollars" for children by adulthood.
Trump said the accounts could potentially remain invested beyond age 18, suggesting they could be kept longer, such as until age 21.
Trump also credited legislation he said made the program possible, suggesting it would have been difficult to win bipartisan approval without it. He described the idea as one that quickly resonated because it was straightforward and broadly appealing.
Trump further used the event to highlight recent economic indicators, saying the S&P 500 reached 7,000 for the first time and claiming the stock market has posted 52 record highs since the election, adding trillions of dollars in market value. He said the U.S. is seeing an influx of new investment and manufacturing activity.
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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