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The American dream for a new generation
The American Dream is among our nation’s greatest ideals—it’s a promise of opportunity that’s offered to any American who works hard, regardless of where they live, the family they were born into, or the circumstances of their upbringing. Yesterday, President Trump took another step towards fulfilling that promise for the next generation.
He rang the opening bell of the New York Stock Exchange and Nasdaq from the Oval Office—for the first time in history—to mark the first day of trading for Trump Accounts.
Trump Accounts are tax-advantaged investment accounts for American children under 18—providing families with a new path for building long-term financial security and setting up our kids with a stake in the economy from day one, so now every newborn has a shot at growing wealth from the day they’re born.
Here’s what that looks like already:
- On 7/4, the Administration deposited $1,000 seed contributions into the accounts of more than 500,000 children.
- More than 6 million accounts have already been opened.
- 86 percent of accounts belong to families earning less than $200,000 a year.
- Parents can contribute up to $5,000 a year, employers up to $2,500, and more than 50 companies have already committed to investing in their employees’ children.
And, by the way, none of this was on accident: Trump Accounts were created through the passage of the Working Families Tax Cuts.
Every child on the Treasure Coast deserves a chance at success, and I’ll keep you updated as we work to keep it that way.
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