Donald Trump, the President of the United States, has unveiled a policy proposal as part of his most recent legislative initiative: a $1,000 investment account for each American infant born between 2025 and 2028.

The initiative, known as “Trump Accounts,” will be provided to all US citizens born after December 31, 2024, and before January 1, 2029, as reported by Daily Mail.

Before the measure was enacted by the House last month, Republicans purportedly altered the program’s name from “MAGA accounts” to “Trump accounts.”

According to reports, the child’s legal custodians would oversee an index fund that is linked to the stock market and would receive a $1,000 contribution from the government.

The president stated at the White House on Monday that the accounts “will enable countless American children to get off to a strong start in life at no cost to the American taxpayer, absolutely no cost…”

It is expected to have a significant effect. In his efforts to urge senators to endorse his proposed legislation, Trump referred to the accounts as a “pro-family” initiative.

“It is a pro-family initiative that will assist millions of Americans in leveraging the power of our economy to empower the next generation, thereby providing them with a significant advantage in life, particularly if we are fortunate with the numbers and the economy,” he stated.

The accounts will reportedly be accessible for additional financial contributions from family, friends, parents, employers, or other entities throughout the child’s life.

The recipient of the account may access a portion of the funds on the 18th birthday for purposes such as education, training, or a first-time home purchase. Full access will be granted at the age of 30.

The president was reportedly accompanied by the leaders of Dell, Uber, Altimeter Capital, ARM Corp, Salesforce, ServiceNow, Robinhood, and Goldman Sachs for the announcement, during which the Trump accounts will be purportedly funded by contributions from private businesses.

Dell Technologies’ CEO, Michael Dell, declared that his organization would “rematch the government’s contributions dollar for dollar for each child born to a Dell team member.”