The Trump administration will cheer new savings accounts for children by ringing the NYSE and Nasdaq opening bells from the White House on Monday, as officials hope to turn the bipartisan idea into a campaign boost.
More than 6 million kids had already signed up for Trump Accounts, enacted last year as part of the Republican tax bill, before they launched on July 4.
Some 1.4 million of those were born during Trump’s term, making them eligible for $1,000 in seed money.
Senior Treasury Department officials told reporters that they would also accept stock contributions, in addition to philanthropic donations and employer matches, after Semafor first reported SpaceX’s Elon Musk was in talks to do just that. President Donald Trump told CNBC he expected Musk to follow through.
Officials, still working on guidance that will allow third parties to host the accounts, are also eyeing ways to increase enrollment, including partnering with brands, erecting billboards, and collaborating with medical facilities.