WATCH LIVE: President Donald Trump participates in the Invest America roundtable
The president is expected to formally announce the Trump Accounts pilot program, which is included in the One Big Beautiful Bill.
President Donald Trump is planning to host a White House event on Monday touting a policy in the One Big Beautiful Bill Act that would create investment accounts seeded with $1,000 for all newborn U.S. citizen children.
The event is expected to be attended by the CEOs of several firms who plan to contribute to the accounts on behalf of their employees, including Dell, Uber and Goldman Sachs. The event was first reported by NBC News.
The provision would launch a pilot program to create so-called "Trump Accounts" for children born between Jan. 1, 2024 and Jan. 1, 2029, which would be seeded with a $1,000 investment from the federal government. The investment would go into a tax-deferred, low-cost index fund tracking the overall stock market, which would be controlled by the child's guardians.
Additional contributions of up to $5,000 a year could be made to the account throughout the child's life. Starting at age 18, the account beneficiary would be able to use it to pay for their education, home purchases or expenses related to starting a business.
President Donald Trump is touting the "Trump accounts" provision of the One Big Beautiful Bill Act. (Kevin Dietsch/Getty Images / Getty Images)
"The passage of the One Big Beautiful Bill will literally change the lives of working, middle class families across America by delivering the largest tax cuts in history, 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!" White House press secretary Karoline Leavitt said in a statement.
Michael Dell, CEO of Dell Technologies, said in a statement that, "The creation of investment accounts for every child will compound into substantial nest eggs providing support for education, home ownership, and starting families."
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"Dell Technologies will proudly match dollar for dollar the government’s seed investment into these accounts for all the children born to Dell team members. This bold move to an ownership society for all included in the Reconciliation Bill will have profound and far reaching benefits for the country," he added.
