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Donald Trump Announces Plans To Give $1,000 To Anyone Born Between These Years
President Donald Trump has revealed plans to give every American born in certain years $1,000.
The 45th and 47th President of the U.S. promoted the key feature of the Republican domestic policy bill plans at the White House on Monday.
The investment accounts, which have been dubbed the ‘Trump Accounts,’ will ‘afford a generation of children the chance to experience the miracle of compounded growth and set them on a course for prosperity from the very beginning.’
White House press secretary Karoline Leavitt stated (per CNN): “The passage of the One Big Beautiful Bill will literally change the lives of working, middle class families across America 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.”
The accounts would be established for all U.S. citizen children born between January 2025 and January 2029 under a pilot program included in the House-passed legislation.
The government’s $1,000 contribution would be placed in an index fund connected to the overall stock market and be managed by the child’s legal guardians.
Starting at $1,000 per child, guardians or other private entities could contribute an additional $5,000 yearly through the child’s life.
“This is a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation. And they will 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.
“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, started a business, and are less likely to be incarcerated. Trump Accounts will contribute to the lifelong success of millions of newborn babies.”
The ‘Trump Accounts’ program is heading to the Senate, with legislators aiming for a July 4 deadline. Changes are expected.
It’s also said that the White House is looking into giving women a ‘baby bonus’ of $5,000 in the hopes of encouraging Americans to have more children.
The New York Times reports that policy experts and advocates have been meeting with White House aides to present such a proposal.
It comes as the U.S. faces a population decline, with more deaths than births, reports Newsweek.
Over the next three decades, America’s birth rate is estimated to average 1.6 births per woman, which is far below the 2.1 births required to maintain a stable population without immigration.
Differing views on the matter have been provided by experts, with some calling for financial plans to help families, while others suggest public health policies.
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