President Donald Trump, known for putting his name on stimulus checks, is now endorsing a provision in the GOP tax bill that would create “Trump accounts” for babies. The program involves a one-time $1,000 contribution per child, invested in mutual or index funds tied to the stock market. Parents, churches, and foundations can also contribute up to $5,000 annually, with the child gaining access at 18 for education or home purchase, and the full balance at 30.
The renaming of the “MAGA accounts” to “Trump accounts” symbolizes a tangible benefit for working-class Americans. The program aims to counter Democratic critiques of tax cuts benefiting the wealthy. Trump’s term ending in 2029 positions this initiative for potential political gain in the 2026 campaign. The bill faces Senate hurdles, with concerns over national debt and provisions like Medicaid and SALT deductions. Trump urges minimal changes to maintain the delicate bill balance.
The White House emphasizes the program’s potential by securing corporate support. Companies like Dell, Salesforce, Uber, and Goldman Sachs commit to significant investments into employee’s children’s accounts. Dell pledges to match government contributions, while Nvidia’s CEO lauds the initiative as visionary. Trump’s goal is to establish a pilot program that may extend beyond his tenure, with the hope of long-term popularity and positive financial impacts on America’s youth.
