#child-investment-accounts

#child-investment-accounts

For babies born in the next few years, "Trump accounts" could be a financial game changer. And for the policymakers and advocates who conceived of the idea, the accounts have another potential benefit: Improving capitalism's reputation, especially among young people. "What I'm really excited about is, we are creating a new generation of capitalists," Republican Sen. Ted Cruz of Texas said at the White House on Tuesday. "Every child in America is going to be an owner of the biggest employers in this country."

He claimed wealthy individuals acted to create the Giving Pledge and feared the public would "come at it with pitchforks," but there has been little progress since. While acknowledging the Giving Pledge was "well intentioned," Bessent argued Trump Accounts will be a much more "concrete" accomplishment. The new structure aims to establish a "shareholder economy" by providing a vehicle for Americans to have a stake in the economic system,

The historic gift has little precedent, with few single charitable commitments in the past 25 years exceeding $1 billion, much less multiple billions. Announced on GivingTuesday, the Dells believe it's the largest single private commitment made to U.S. children. It is also unusual in that it will operate through investment accounts set up by the U.S. Department of the Treasury that will be managed by private companies.