WASHINGTON—President Donald Trump held a high-profile business roundtable at the White House on Monday to highlight the “Invest America Act.”
The proposed legislation, introduced by Sen. Ted Cruz (R-Texas) would provide $1,000 in government-funded savings—dubbed “Trump Accounts”—for every American child born between Jan. 1, 2025, and Dec. 31, 2029, with money reclaimed from welfare reforms that eliminate “waste and fraud,” according to the president.
“It will make it possible for countless American children to have a strong start in life at no cost to the American taxpayer, absolutely no cost. It’s going to have a huge impact,” Trump said.
“It’s a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation, and 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.
Dozens of business leaders—members of the Invest America CEO Council—joined the president at the meeting to discuss how the investments could create opportunities in the future.
“It’s not just an account, it’s a launchpad,” Dara Khosrowshahi, Uber CEO, said during the event.
The accounts will also encourage investment and promote a better understanding of the free market through hands-on experience, according to multiple panelists.
For those that continue contributing to the savings accounts, the values could top $1 million in 50 years if $750 is added every year, Brad Gerstner—founder, chairman, and CEO of Altimeter Capital—said during the panel.
Family members, friends, and businesses can contribute up to $5,000 annually to individual accounts, which grow tax-deferred until the child reaches the age of 18, after which distributions are taxed at the existing capital gains rate, according to the text of the bill.
The leader of Dell computers, 0ne of the first companies to support the act, vowed to match the government’s contributions for every child born to a Dell employee.
“I believe this is an incredible moment for all of us here today ... as we come together to invest in the future of our country,” Michael Dell, CEO of the computer giant, said during the panel.
He said the new program would align with “our core belief that opportunity should begin at birth.”
“We view this initiative as a powerful platform of philanthropic innovation to help children thrive, particularly those that have been left behind,” Dell said.
One lawmaker in attendance suggested the legislation will offer significant financial benefits for families of all backgrounds.
“It’s a pretty simple concept,” House Speaker Mike Johnson (R-La.) said during the roundtable. “It’s a bold, transformative policy that gives every American child a financial start from day one. Trump accounts are all about setting up the next generation for success.”
He said the money—which puts them in a “better position than half of American adults” with no savings—will help young adults pay for college, purchase a home, or start a business.
Johnson said the act will drive growth, bolster economic opportunities, and an average family with two children would see their take-home pay increase by more than $13,000 annually.
Lingering legislative challenges are creating obstacles, however, with lawmakers focused on their current budget plan.
“None of this happens unless we pass our One Big Beautiful Bill,” Johnson said. “Passing this pro-growth legislation will help every single American.”
He said the goal is to have the legislation passed and on the president’s desk by July 4.
Participants at the roundtable discussion also gathered to highlight and promote trillions of dollars in investments in U.S. businesses. The talks showcased the administration’s policy objectives aimed at driving further private sector and foreign investment, including deregulation, tariffs, and tax cuts.
