President promotes "Trump accounts" for newborns as part of "big beautiful bill"

• The program would deliver a one-time $1,000 government contribution for every U.S. citizen born between Jan. 1, 2025, and Dec. 31, 2028.
• The accounts would be privately held, tax deferred, and set up to track a U.S. stock index fund. They would be open to additional private contributions from sources including families, employers and religious institutions.
• Funds would be eligible for distribution when the beneficiary turns 18.

The big picture: The so-called "Trump accounts" proposal is part of the president's "One Big Beautiful Bill."

• The White House says it would help newborns start their lives on the right track.
• "This is a pro-family initiative that will help millions of Americans harness the strength of our economy, to lift up the next generation and they'll really be getting a big jump on life, especially if we get a little bit lucky with some of the numbers," Trump said at the roundtable.

Inside the room: Supporters in attendance at the White House roundtable Monday included Goldman Sachs CEO David Solomon, Dell CEO Michael Dell, Uber CEO Dara Khosrowshahi.

By the numbers: The power of compounding interest varies considerably based on when you started invested.

• For example, $1,000 invested in the S&P 500 five decades ago would be worth nearly $350,000 today, according to Bespoke Investment Group.
• But $1,000 invested in August 2000 after the Dot Com bubble burst would be worth only $6,200 today.

The bottom line: "If this provision comes to pass, we may see birth rates go up during lengthy bear markets!" Bespoke coyly predicts.

Editor's note: This story has been corrected to reflect the start date of births eligible for the program is Jan. 1, 2025 (not Jan. 1, 2024)

Pete Gannon contributed reporting