‘Trump accounts’: CEOs to unveil investments for newborns at White House-OxBig News Network

The CEOs of Uber, Dell, Goldman Sachs and more are expected to announce Monday that they will collectively invest billions of dollars into so-called Trump accounts for the children of their employees, a White House spokesperson confirmed to CNBC.

The executive are slated to make the commitments during President Donald Trump‘s roundtable event touting the eponymous pilot program, which would deposit $1,000 from the government in investment accounts for newborn Americans. NBC News first reported the details of the event.

More than half a dozen corporate leaders are set to appear for the “Invest America” roundtable at the White House at 2 p.m. ET, the White House official told CNBC. They include:

The provision to create the accounts passed the House last month as part of the massive budget bill that the president is pushing Republicans to send to his desk before the Fourth of July. The bill is pending before the Senate, where it faces strong pushback from some fiscally conservative Republicans who are demanding major changes.

The program — previously referred to as “Money Accounts for Growth and Advancement” or “MAGA Accounts” — would seed index fund accounts with $1,000 in government funds for U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028.

The tax-deferred accounts, which track the overall U.S. stock market, allow additional contributions of up to $5,000 per year. The seed money will be funded by the Treasury Department and controlled by the child’s guardians. Funds can be distributed once the beneficiary turns 18.

The pilot program is similar to other savings account options that already exist, including 529 college savings plans, which have higher contribution limits. Some financial advisors say that the Trump accounts may not offer the best investment incentives.

“The passage of the One Big Beautiful Bill will literally change the lives of working, middle class families across America by delivering the largest tax cuts in history, increasing the child tax credit, and by creating this incredible new ‘Trump Account’ program, which will put the lives of young Americans on the right financial path!” White House press secretary Karoline Leavitt told CNBC in a statement. 

This is developing news. Please check back for updates.

— CNBC’s Megan Cassella and Jessica Dickler and NBC News’ Garrett Haake contributed to this report.