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President Donald Trump has introduced a new policy proposal called "Trump accounts," which aims to provide financial security for American children.
The US President unveiled the federal program on Monday, June 09, at a White House roundtable with over a dozen CEOs, including Uber, Goldman Sachs and Dell Technologies, Trump relayed the details of what he called the “Trump accounts”.
According to the plan, every US citizen born between January 1, 2025, and December 31, 2028, would receive a one-time $1,000 investment from the federal government.
The accounts will be controlled by guardians and allow additional private contributions up to $5,000 annually.
Trump called it “a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation”.
The initiative has garnered support from prominent CEOs, including Michael Dell of Dell Technologies, David Solomon of Goldman Sachs, and Dara Khosrowshahi of Uber.
House Speaker, Mike Johnson praised the scheme, saying it would give every eligible child a financial head start from day one.
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