The American economy has created more wealth, innovation, and opportunity than any nation in history. Millions of Americans already participate in that success through retirement accounts, pensions, small businesses, and investments. President Trump and I believe even more Americans should have the opportunity to own a direct stake in the growth and success of the American economy. Trump Accounts are designed to help make that possible for future generations from day one.
As Chairman of the House Financial Services Subcommittee on Oversight and Investigations, I regularly meet with stock exchanges, investment banks, wealth managers, and stakeholders across our capital markets as part of my regular oversight work. What I hear consistently is that America’s financial markets remain the strongest and most innovative in the world. Under SEC Chairman Paul Atkins, the SEC is once again focused on capital formation, innovation, and helping markets function efficiently for businesses and investors alike. In 2023, there were 154 IPOs on US exchanges, last year, that number was 347. Exchanges are reporting one of the strongest years for IPO activity in years, a signal that confidence and investment are returning to the American economy, thanks to the Trump Administration’s untangling of “Blue Tape” and overreach from the Biden years.
Republicans are focused on following the law and promoting capital formation. Our markets need clear rules, not biased liberal ideologies.
Gallup found that only 62 percent of Americans own stock in any form, whether directly or through retirement accounts. Trump Accounts are designed to help expand that ownership culture to the next generation of Americans, so that number gets as close to 100% as possible.
As many of us are aware, housing costs have increased for various reasons. 2021 to 2025 was the most difficult time to buy a home in recent memory. The National Association of Home Builders estimates that nearly 75 percent of American households could not afford a median-priced new home. First-time homebuyers were entering the market later than ever before, burdened by student debt, high mortgage rates, and uncertainty about the future. Many young Americans began adulthood already financially behind.
President Donald Trump and Treasury Secretary Scott Bessent understand this reality and are determined to correct it with what I like to call “participatory capitalism.” As Secretary Bessent recently said, “Wall Street has had years of success. It is Main Street’s turn.”
That is exactly why Trump Accounts matter.
Created through the Working Families Tax Cuts Act, Trump Accounts would give every eligible American child a tax-advantaged investment account seeded with an initial $1,000 contribution from the U.S. government. Parents could easily open and manage these accounts through local banks, credit unions, or financial institutions using standard tax and investment forms, much like opening a college savings account today. Families, employers, charities, and grandparents could continue contributing over time, helping these accounts grow alongside the American economy. These accounts would be invested in diversified, low-cost index funds and similar long-term assets designed to build reliable value steadily over time.
Already, Trump Accounts have started a financial revolution centered on wealth creation and financial literacy. Great companies across Pennsylvania, such as Vanguard and BNY Mellon, have matched the federal government’s $1,000 contribution for the children of their employees. That means some children are beginning life with real investments already growing in their name before they even enter school. Trump Accounts were such a good idea, other financial institutions have done the same. One of the most unique aspects of our economy is entrepreneurship and ownership. These accounts help create a stronger ownership culture in America, allowing more citizens to directly participate in the long-term growth of the U.S. economy.
This is about far more than retirement savings. Trump Accounts give young Americans a financial foundation before they even enter the workforce. Instead of starting from scratch, they could begin adulthood with an investment account already connected to the strength and growth of the American economy. This new financial tool will help Americans create a nest egg to help boost their retirement income on top of their existing Social Security, further enhancing retirement accounts, including Social Security.
Trump Accounts are a new opportunity to invest, not previously possible, that could grow to tens of thousands of dollars. Flexible investments that can be used to buy a home, pay for education, start a business, or simply buy a new truck. A child born today could reach adulthood with meaningful savings and investments already working for them.
America’s capital markets create wealth on a scale no other nation can match. Most importantly, Trump Accounts embrace what has always made America exceptional: our belief in free enterprise, opportunity, and ownership. They offer an Americans First, participatory economy, giving future generations a stake in the strongest capital markets in the world. That is not just good economic policy. It is an investment in the American Dream itself.