Trump announces plans to give $1,000 to

President Donald Trump has announced a new initiative as part of his ‘big, beautiful bill’ that would grant \$1,000 investment accounts—dubbed ‘Trump accounts’—to American babies born between January 1, 2025 and December 31, 2028. These tax-deferred accounts, controlled by guardians, would track the stock market and allow annual contributions of up to \$5,000. Trump described the initiative as a “pro-family” measure aimed at boosting economic opportunity for the next generation. House Speaker Mike Johnson called it a bold move to support life, family, and prosperity. However, the plan depends on the controversial bill being approved by the Senate.

The ‘big, beautiful bill’ narrowly passed the House and includes several tax breaks, such as no taxes on tips and overtime, increased child tax credits, and auto loan interest deductions for U.S.-made vehicles. It also proposes a \$200 tax on gun silencers and cuts to Medicaid and SNAP to offset the tax cuts. These changes include stricter eligibility checks and restrictions on benefits for undocumented immigrants and gender transition services. Critics argue the bill could leave 8.6 million people without healthcare and significantly reduce social support, despite projected savings of \$1 trillion.