US President Donald Trump has announced plans to give everyone $1,000 if they were born between two set years as he expands his plans around his 'big, beautiful bill'.
On Monday (9 June), Trump announced a new scheme which will provide $1,000 government-funded investment accounts for American babies born in specific years.
Dubbed the 'Trump accounts', the president announced the move at the White House, explaining that the accounts will 'track the overall stock market'.
It forms part of his plans for his 'big, beautiful bill' which appeared to set off a rift between him and his former 'First Buddy' Elon Musk, who slammed the proposed legislation, saying it will undo all his work at the Department of Government Efficiency (DOGE).
In his latest announcement about the so-called 'Trump accounts', the POTUS explained: “For every US citizen born after December 31, 2024, before January 1, 2029, the federal government will make a one-time contribution of $1,000 into a tax-deferred account that will track the overall stock market.
"These accounts will be private property controlled by the child's guardians."
The president referred to the accounts - which allow personal contributions of up to $5,000 each year - a 'pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation'.
Meanwhile, House speaker Mike Johnson said: “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.”
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