Donald Trump announced a new federal program Monday to create $1,000 tax-deferred investment accounts for every U.S. baby born from 2025 to 2029.

Dubbed “Trump accounts,” these would track the stock market and allow up to $5,000 in annual private contributions.

Major CEOs from companies like Uber, Goldman Sachs, and Dell pledged billions in support.

The program is part of a broader budget bill that passed the House but faces opposition in the Senate, The Guardian has reported.

Critics, including the Congressional Budget Office, warn it could add $2.4 trillion to the national debt and reduce Medicaid and food aid.

Written by B.C. Begley