Senator Ted Cruz (R) and Senator Cory Booker (D) sent a letter to Fortune 1000 CEOs encouraging their investment in “Trump Accounts" for children across the nation.
The Trump Accounts operate under the "One Big Beautiful Bill," which was signed into law by President Trump earlier this year. The accounts can be opened by American children under the age of 18. Children born between Dec. 1, 2024, to Jan. 1, 2029, are eligible to receive $1,000 from the government.
Senator Ted Cruz led the effort to pass the bill, but now investments are needed.
In a joint effort with Senator Booker, the letter urges the companies “to contribute at a level aligned with your (the company’s) mission and capacity.”
“I was indescribably proud to draft and pass into law the language for Trump Accounts,” posted Cruz on X. “As I said when it passed, this program will create fundamental and transformative changes for the financial security and personal freedoms of American citizens for generations.”
The founder of Dell Technologies, Michael Dell, and his wife, Susan, announced this week that they plan to donate around $6 billion. "We believe the smartest investment we can make is the one in children," said Dell in an interview with CBS News. The Chairman and his wife hope to lead by example with their investment.
"I'm excited for this new initiative for families, philanthropists, and the business community to invest in our country's future – our kids," said Senator Booker in a post on X. "Like my Baby Bonds plan, these accounts will give every child startup capital to build wealth, for education, their first home, a business, or wherever their genius leads them."
Officials and investors alike are collaborating in a nonpartisan effort to invest in the future of children across America.
