Op-ed: Trump accounts: Investing in America’s Next Generation
For all our lives, we’ve heard talk from Washington about doing the right thing for working families and future generations. Despite all that talk, millions of young families gradually fell behind during the inflation of the Biden years.
That’s why, since arriving in Washington last year, I’ve worked alongside President Trump to turn rhetoric about working families into real relief — starting with giving the next generation the financial head start it deserves.
By creating new, tax-advantaged 530a savings accounts through the Working Families Tax Cuts, we are revolutionizing the way American families prepare their children for financial independence. With these accounts — commonly known as “Trump Accounts” — children born between January 1, 2025, and December 31, 2028, are now eligible to receive a $1,000 contribution from the Department of Treasury in a pilot program that will jumpstart their economic and financial freedom.
After four years of price hikes, planning for the future has become a real challenge for many families in the Lehigh Valley and the Poconos.
By unlocking the power of savings, interest and investment, these accounts give parents the financial tools to set our kids up for a brighter future. In fact, estimates show that even if no additional money is added beyond the initial $1,000, these accounts could grow to be worth over $21,000 by the time a child turns 18.
This estimate doesn’t include the billions of dollars that have been pledged to support these accounts from philanthropists like the Dell family.
Because of President Trump and Congressional Republicans, each child’s financial foundation can begin the moment they’re born.
As they get older, they’ll learn about investing by watching their money compound in real time. When they turn 18, they can continue letting their money grow or withdraw funds right away to use for things like education or a home.
That’s how we deliver real results for the next generation.
As I listen to President Trump’s State of the Union Address, I’ll be reflecting on the work that we’ve done in the past year to support working families. That’s why I’m proud to have as my guest Sarah Arndt, a Head Start teacher from Carbon County. After all the challenges working families have faced in the last several years, I want to highlight the vital work being done by so many in our community to support kids and parents.
I’m grateful to Sarah and her colleagues for all the work they do, and I’m proud to be supporting families across our community through the creation of programs like the Trump Accounts.
In the year ahead, I’m looking forward to continuing to deliver wins for working families and everyone in the Lehigh Valley and the Poconos.
Whether it’s by delivering tax relief for every American, expanding access to childcare, or investing in the next generation, we’ve made important progress, but we know that more work remains.
Together with President Trump, I’m going to continue focusing on putting more money back into the pockets of people in our community, and setting the table for future prosperity.