Trump Promotes $1,000 Investment Accounts for Newborns in Republican Bill

President Trump promoted the introduction of "Trump Accounts," a provision in the Republican tax and spending bill aiming to provide every newborn American child with a $1,000 tax-deferred investment account. These accounts, starting with a government seed investment of $1,000, will be managed by the child's legal guardians and invested in an index fund tracking the stock market. When the child turns 18, the funds can be withdrawn tax-advantaged to pay for education, a home down payment, or starting a small business, with other uses incurring higher taxes. Top executives from companies like Dell, Uber, and Goldman Sachs pledged billions to match or invest in these accounts for their employees' children, emphasizing the initiative's potential to give children a financial head start. However, eligibility requires that at least one parent have a Social Security number with work authorization, excluding some children born to immigrant parents. While Trump and Republicans hail the plan as a pro-family initiative to lift the next generation, Democrats criticize the broader bill for cuts that could harm health and nutrition programs for children.