Trump Touts CEO Pledges on Tax Bill’s Child Savings Accounts
US President Donald Trump, center, during an Invest America roundtable in the State Dining Room of the White House in Washington, DC, on June 9.
Photographer: Yuri Gripas/Abaca/BloombergPresident Donald Trump touted a provision in his tax bill that would deposit $1,000 into an investment account for babies born in the next few years alongside corporate leaders who said they would aid the effort.
Under the initiative, the federal government would make the one-time contribution into a tax-deferred, low-cost index fund that will track the overall stock market, White House officials told Bloomberg. Guardians of the children would have control over the accounts.