announced the launch of a of up to for a select group of recipients who can , but must meet one basic requirement: . The announcement was made at the White House as part of a broader legislative proposal with a package of ideas the president has to .

Trump declared that for every American citizen , the federal government will make a one-time contribution of . The funds would be earmarked for a tied to the overall performance of the . Ownership and control would rest with the .

The accounts would allow for . Trump described the measure as a The stated goal is to help families leverage the economy to benefit the next generation.

House Speaker Mike Johnson endorsed the proposal. Johnson stated,

“It’s a bold, transformative policy that gives every eligible American child a financial head start from day one. Republicans are proud to be the party we always have been. “It supports life and families, prosperity and opportunity.”

The initiative is part of the legislative package Trump calls his “.” The bill passed the House of Representatives last month. The vote was close, with a one-vote majority and strong Democratic opposition.

The announcement drew mixed reactions. , a former Trump ally, publicly criticized the comprehensive bill. Musk argued that the proposed legislation would undo his work at the

The Big, Beautiful Bill includes multiple tax and budget provisions. Proposed tax cuts include a . It also proposes a tax freeze on overtime income. The bill seeks to redirect funds toward military and border security. It would also create tax deductions of up to

It includes a $200 reduction in federal taxes on gun silencers. These measures are presented as temporary exemptions. Most of the tax cuts would expire in 2028. The auto loan interest deduction would be extended . The bill also increases the child tax credit by, totaling

To compensate for the loss of income, the bill introduces changes to social programs. It proposes adjustments to , or food stamps. This entails more frequent eligibility checks for beneficiaries.

Funding for undocumented immigrants would be cut. A controversial provision would prohibit the use of federal funds for gender transition services for children and adults. These measures aim to generate significant budget savings.

The Congressional Budget Office (CBO) projected significant impacts. It estimated that 8.6 million people would lose health coverage due to the changes. Adjustments to Medicaid, SNAP, and other programs would represent a savings of $1 trillion.