Trump Introduces Child Investment Plan for 2025-2029
Former President Donald Trump has unveiled a new financial policy for American children. According to this proposal, every child born to U.S. citizens between 2025 and 2029 will have a $1,000 investment account given to them by the federal government.
'Trump Accounts' to Start with Government Contribution
The new initiative was discussed during a White House roundtable on Monday. Company leaders from Uber, Goldman Sachs, and Dell Technologies attended. Trump said the accounts, named ‘Trump Accounts,’ will receive a one-time, tax-deferred deposit of $1,000 for every eligible child born between January 31, 2024, and December 31, 2029.
Guardians to Manage Accounts with Private Contributions Allowed
Guardians of the children will control these accounts. They can contribute up to $5,000 annually. The funds will grow with interest and remain in the account until the child turns 18. The program applies to children from all income groups. However, at least one parent must have a valid Social Security number and work authorization.
Supporters Cite Economic Benefits, Critics Raise Equity Concerns
Trump contends the program will stimulate long-term economic growth. Others are concerned that withdrawing funding from other social programs to support this one may undermine low-income groups. Investor Gerstener of Silicon Valley said economic inequality and system distrust can erode national stability.
Bill Passed in House, Awaits Senate Approval
The bill has passed the House of Representatives. It still must pass in the Senate, where it could encounter resistance.
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