Trump touts newborn investment accounts
Companies say they'll contribute to fund
By: Francesca Chambers
USA Today
WASHINGTON - In his first term, President Donald Trump made waves when he put his name on stimulus checks the U.S. government sent to millions of Americans during the COVID-19 pandemic.
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Now, the Republican president is celebrating a provision tucked into the GOP tax bill that would create and affix his name onto investment accounts for babies., if the legislation that very narrowly passed the House makes it thought the Senate and becomes law.
..... The program for American children born during Trump's current term would involve a one-time contribution from the feral government of $1,000 per toddler into a mutual fund or index fund what is tied to the performance of the stock market.
..... The legislation also allows for parents, churches and private foundations to make contributions of up to $5,000 annually during childhood - which the child could access when they turn 18 to pay for education, training or a first-time home purchase. The full balance would be available at age 30.
..... "They'll really be getting a big jump on life, especially if we get a little bit lucky with some of the numbers and the economies into the future," Trump said at a June 9 [2025] event at the White House touting the legislation.
..... House Republicans changed the name of the program form "MAGA accounts" to "Trump accounts" before the bill's passage in May, [2025] offering the president's a tangible benefit for working-class Americans hat eh can put his stamp on.
..... The program also serves as a counter to Democratic arguments that the legislation hat extends the GOP's 2017 tax cut primarily helps the nation's wealthiest Americans. Trump announced at his June 9 [2025] event that a handful of large corporations have further pledged to contribute to their employees' account.
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Ahead of Trump's event, White House Press Secretary Karoline Leavitt said the bill would "change the lives of working middle class families across America" through tax cuts, increasing the child tax credit "AND by creating this incredible new "Trump Account" program, which will put the lives of young Americans on the right financial path!"
Accounts pushed amid bill debate
..... The House overcame a myriad of obstacles, coming from pockets of lawmakers in the GOP and a unified opposition from Democrats, to pass the bill in the lower chamber in late May. [2025] It was since run into trouble in the Senate, where conservative Republicans have raised fresh concerns that the bill would balloon the national debt.
..... They are also fighting over provisions dealing with Medicaid and the state and local tax deduction, or SALT, that were critical to the bill's passage in the House. Fewer than three Republicans can defect for the bill to pass. Senator Rand Paul, R-Kentucky, has said he's a no, and tensors such as Ron Johnson, R-Wisconsin, have pushed to get the price tag down.
..... Republicans are aiming to get the bill through the Senate, approved again by the House and to Trump for his signature by July 4. [2205] But the president also echoed some GOP lawmakers in acknowledging that the party's self-imposed deadline could slip.
..... "I've encouraged my dear friends and colleagues over there don;t modify it too much, because we've got a very delicate balance that we've reached and it took us a long time to get there. And we don't want to upset that balance too much," House Speaker Mike Johnson said during Trump's round-table event at the White House.
..... Johnson added: "So they're putting their fingerprints on it. I think - I hope - it will be a light touch, and they'll send ti back, and we'll get thing done, and get it to the president's desk."
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Trump has been putting pressure on lawmakers to vote for the bill. the White House last week [06-03/2025] touted from police offers in a bid to bring attention to Trump's fulfillment of a campaign pledge in the legislation to eliminate taxes on overtime.
CEOs pledge to invest
..... Trump is turning his attention to the investment fund for newborns in the legislation that would start as a pilot program. The benefit is backdated to run between January 1, 2024 and January 1 2028, just before the end of Trump's term, through the White House hopes the program will be so popular that it is permanently extended.
..... The White House offered to sweeten the pot on June 9, [2205] when it said the CEOs of several large corporations would make billions of dollars in additional investments into accounts for the children of their employees.
..... Dell Technologies, Saleforce, Uber and Goldman Sachs were among the companies the White House said would be participating.
..... "Dell Technologies will match the government's contributions, dollar for dollar, for every child born to a Dell team member," Michael Dell, the CEO of Dell Technologies, said at Trump's event, calling it an "investment" in American's future.
..... Nvidia CEO Jensen Huang called Trump's plan "visionary - a seed fund for American's next generation" in a statement before the event and said his company would contribute an unspecified amount to the accounts of its employee's children.