US President Donald Trump provides a thumbs up as he exits Marine One and walks to board Air Drive One at Joint Base Andrews, Maryland, on June 6, 2025.
Andrew Caballero-Reynolds | AFP | Getty Pictures
The CEOs of Uber, Dell, Goldman Sachs and extra are anticipated to announce Monday that they may collectively make investments billions of {dollars} into so-called Trump accounts for the youngsters of their staff, a White Home spokesperson confirmed to CNBC.
The chief are slated to make the commitments throughout President Donald Trump‘s roundtable occasion touting the eponymous pilot program, which might deposit $1,000 from the federal government in investment accounts for new child People. NBC News first reported the small print of the occasion.
Greater than half a dozen company leaders are set to seem for the “Make investments America” roundtable on the White Home at 2 p.m. ET, the White Home official informed CNBC. They embody:
The availability to create the accounts handed the Home final month as a part of the huge finances invoice that the president is pushing Republicans to ship to his desk earlier than the Fourth of July. The invoice is pending earlier than the Senate, the place it faces sturdy pushback from some fiscally conservative Republicans who’re demanding main modifications.
This system — beforehand known as “Cash Accounts for Development and Development” or “MAGA Accounts” — would seed index fund accounts with $1,000 in authorities funds for U.S. residents born between Jan. 1, 2025, and Dec. 31, 2028.
The tax-deferred accounts, which monitor the general U.S. inventory market, enable extra contributions of as much as $5,000 per 12 months. The seed cash might be funded by the Treasury Division and managed by the kid’s guardians. Funds might be distributed as soon as the beneficiary turns 18.
The pilot program is just like different financial savings account choices that exist already, together with 529 faculty financial savings plans, which have higher contribution limits. Some financial advisors say that the Trump accounts could not provide the very best funding incentives.
“The passage of the One Massive Lovely Invoice will actually change the lives of working, center class households throughout America by delivering the most important tax cuts in historical past, growing the kid tax credit score, and by creating this unimaginable new ‘Trump Account’ program, which can put the lives of younger People on the suitable monetary path!” White Home press secretary Karoline Leavitt informed CNBC in an announcement.
That is creating information. Please test again for updates.
— CNBC’s Megan Cassella and Jessica Dickler and NBC Information’ Garrett Haake contributed to this report.
