Trump announces $1,000 government-funded accounts for American babies (video)

President Donald Trump has announced a new policy proposal that would see every American child born between January 1, 2025, and December 31, 2028, receive a $1,000 investment account from the federal government. 

The US President unveiled the federal program on Monday, June 9. 

At a White House roundtable with over a dozen CEOs, including from Uber, Goldman Sachs and Dell Technologies, Trump relayed the details of “Trump accounts”. 

“For every US citizen born after December 31, 2024, before January 1, 2029, the federal government will make a one-time contribution of $1,000 into a tax-deferred account that will track the overall stock market,” Trump said. 

The accounts will be controlled by guardians and allow additional private contributions up to $5,000 annually. 

Trump called it “a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation”.

Watch Trump make the announcement below.