All articles tagged with #trump accounts
Originally Published 7 days ago — by Syracuse.com
The U.S. government will soon offer 'Trump Accounts' for children born between 2025 and 2028, providing an initial $1,000 deposit and allowing parents to contribute up to $2,500 annually, with funds invested in the stock market to be accessed when the child turns 18, aiming to boost future financial security for over 14 million children.
Originally Published 17 days ago — by Yahoo Finance
U.S. Treasury Secretary Scott Bessent predicts that the Trump accounts program, which aims to give every American child a stake in the financial system, could lead to a significant merger of Main Street and Wall Street, potentially making 2026 a very positive year for the American economy by expanding participation in markets and integrating crypto assets into retirement savings.
Originally Published 19 days ago — by About Schwab
Charles Schwab announced it will match the U.S. government's $1,000 contribution to eligible newborn children of its employees, supporting early financial security and literacy for the next generation through the 'Trump Accounts' program.
Originally Published 21 days ago — by Axios
The article discusses a proposed initiative called Universal Basic Investment, exemplified by the Trump Accounts program, where newborns receive federal seed money in tax-deferred investment accounts to help address America's aging crisis and low fertility rate. Billionaires like the Dells and Dalios are contributing significant funds to expand this program, aiming to give children a financial head start and promote collective action to bridge the wealth gap and secure future economic stability.
Originally Published 24 days ago — by Fortune
Ray Dalio announced a $250 contribution to the Trump Accounts for young Americans, part of a bipartisan effort to promote financial literacy and human capital investment, while Elon Musk dismisses such initiatives, asserting that technological advancements like AI will eliminate poverty and the need for money, leading to a future of universal high income.
Originally Published 25 days ago — by Bloomberg.com
Ray Dalio and BlackRock are donating to the Trump Accounts program in Connecticut, which aims to provide tax-advantaged savings accounts for children, as part of broader corporate support for President Trump's initiative to promote early financial education and opportunity for American children.
Originally Published 25 days ago — by CBS News
Treasury Secretary Scott Bessent launched a new website for the Trump Accounts program, a government-backed savings plan for children, with contributions from billionaire Ray Dalio and other philanthropists, aiming to encourage long-term savings for children's futures through tax-advantaged investments.
Originally Published 25 days ago — by Axios
Billionaire Ray Dalio announced a $75 million contribution to 'Trump accounts' aimed at improving financial prospects for children, as part of a broader government and corporate effort to support youth savings and investment programs.
Originally Published 25 days ago — by CNBC
Ray Dalio and his wife Barbara are supporting the 'Trump accounts' initiative, which provides government seed money and private donations to help build wealth for children, particularly in lower-income areas, as part of a broader effort to promote generational wealth and opportunity in the U.S.
Originally Published 1 month ago — by Fortune
Scott Bessent criticizes the Giving Pledge as amorphous and promotes the new Trump Accounts initiative, which aims to give every U.S. child a $1,000 investment to foster financial literacy and a stake in the economy, viewing it as a more concrete and impactful form of philanthropy to address economic inequality and system disengagement.
Originally Published 1 month ago — by CNN
President Trump introduced the 'Trump Account' program, supported by a $6.25 billion donation from Michael and Susan Dell, which provides federal and private funding for children's savings accounts aimed at education, home buying, or starting a business, with eligibility based on income and citizenship, but critics argue it adds complexity and is regressive compared to existing savings options.
Originally Published 1 month ago — by The New York Times
Michael and Susan Dell announced a $6.25 billion donation to benefit about 25 million children through new Trump accounts created by the recent tax bill, with details still being finalized on eligibility and how families can participate.
Originally Published 1 month ago — by IRS (.gov)
The Treasury and IRS announced upcoming regulations for Trump Accounts, a new type of IRA for eligible children, including details on contributions, investments, and distributions, with a pilot program offering a $1,000 contribution per eligible child, and plans to release a form for account setup and enrollment.
Originally Published 5 months ago — by Axios
Treasury Secretary Bessent sparked controversy by suggesting that new Trump baby accounts could serve as a 'backdoor' to privatize Social Security, prompting criticism from Democrats and social security advocates, despite the White House's assurances of protecting the program.
Originally Published 5 months ago — by The New York Times
Treasury Secretary Scott Bessent suggested that the Trump-created accounts for children could serve as a 'back door' to privatize Social Security, raising concerns about shifting reliance from government benefits to private investments for retirement, amidst ongoing debates over the program's future funding.