WASHINGTON — An octet of CEOs hit the White House Monday to support President Trump’s plan to give $1,000 to almost every child born during his second term — by pledging to match the federal benefit for their employees’ children.
Under the “Trump Accounts” program, the federal government would provide an initial $1,000 tax-deferred, low-cost account that will grow with the stock market. Children born between Jan. 1, 2025, and Dec. 31, 2028, will be eligible for the parent-controlled fund, which will allow up to $5,000 to be contributed annually.
“They’ll really be getting a big jump on life, especially if we get a little bit lucky with some of the numbers and the economies into the future,” Trump said of the children who will be eligible for the funds, calling the plan a “pro-family initiative that will help millions of Americans.”
“In addition to the substantial financial benefits of investing early in life, extensive research shows that children with savings accounts are more likely to graduate high school and college, buy a home, start a business and are less likely to be incarcerated,” the president added.
The program is a part of the president’s “Big Beautiful Bill” that is being debated in the Senate — and the meeting with CEOs is meant to boost public interest in the program while the bill still has votes pending.
Attendees included Dell CEO Michael Dell; Altimeter Capital CEO Brad Gerstner, a prominent advocate of giving kids some form of investment account from birth; ARM Corp CEO Rene Haas; Salesforce co-founder Parker Harris; ServiceNow CEO William McDermott; Uber CEO Dara Khosrowshahi; Goldman Sachs CEO David Solomon, and Robinhood CEO Vladimir Tenev.
The business leaders celebrated the prospect of contributing to the fund for the children of their employees, thanking Trump for starting the investment initiative.
“The creation of investment accounts for every child will compound into substantial nest eggs providing support for education, home ownership, and starting families,” Dell said in a statement, vowing that his company will “proudly match dollar for dollar the government’s seed investment into these accounts for all the children born to Dell team members.”
Trump has been keen on ensuring passage of the One Big Beautiful Bill Act, and has met with Republican members of Congress both on Capitol Hill and at the White House to push for it.
Some GOP lawmakers, including Sens. Ron Johnson (R-Wis.), Rand Paul (R-Ky.), Rick Scott (R-Fla.) and Mike Lee (R-Utah), have indicated they won’t support the bill over the prospect of it adding trillions to the federal deficit.
Former Department of Government Efficiency head Elon Musk went on a tirade against the “pork-filled” bill last week, leading to the demise of his relationship with Trump.
Republicans hold a 53-47 Senate majority, meaning only three senators can defect on the legislation before it fails.
Trump said he wants Congress to send the bill to his desk by July 4, predicting that “it’s going to go pretty quickly.”
House Speaker Mike Johnson (R-La.) pointed out that the House passed the bill after 14 months of deliberations — but noted that the Senate has a much more “truncated time period.”
“The passage of the One Big Beautiful Bill will literally change the lives of working, middle class families across America,” White House press secretary Karoline Leavitt said in a statement, “by delivering the largest tax cuts in history, increasing the child tax credit, AND by creating this incredible new ‘Trump Account’ program, which will put the lives of young Americans on the right financial path!”
