Sen. Cruz Joins President Trump at White House to Announce Automatic Enrollment for Trump Accounts

WASHINGTON, D.C. - U.S. Sen. Ted Cruz (R-Texas) joined President Donald Trump at the White House yesterday to discuss the automatic enrollment of millions of American children in Trump Accounts. Sen. Cruz authored and passed into law the legislation establishing Trump Accounts last year.

On October 1, the U.S. Department of the Treasury announced the completion of automatic enrollment for Trump Accounts. The Treasury established accounts for more than 60 million additional eligible children.

Click here or on the image above to watch the full announcement.

Please see below for Sen. Cruz's remarks as prepared for delivery:

"Thank you, Mr. President, for bringing us together today to celebrate this incredible milestone for Trump Accounts. And thank you to Brad and Michael for everything you've done to turn this idea into reality.

"Mr. President - between school choice and Trump Accounts, there has never been a president who has done more for children than you.

"Today is an important day for Trump Accounts.

"When I wrote this legislation, we had a simple goal: every child in America should have the opportunity to begin life with an investment account and a stake in the extraordinary economic engine that is the United States of America.

"That is why I deliberately drafted the legislation to provide for auto-enrollment-so Treasury could open accounts for all 70 million American children under the age of 18. And I'm proud to stand here today seeing that become reality.

"For children born between January 1, 2025, and December 31, 2028, the federal government will make a one-time $1,000 contribution to get them started.

"But the bigger idea here goes far beyond that first $1,000.

"For decades, we've talked about how to teach young Americans the value of saving, investing, and building wealth. Trump Accounts actually gives them the tools to do it.

"When a young person turns 18 and looks at an account that has been growing alongside them their entire life, capitalism is no longer an abstract concept.

"They're an investor. They're an owner. They have skin in the game.

"And my hope is that, decades from now, we look back at Trump Accounts as the beginning of an entire generation of Americans who became investors and owners from childhood.

"There is incredible momentum behind these accounts, and we are seeing more and more companies pledging to contribute to their employees' accounts, which will only continue to help the next generation of Americans.

"Secretary Bessent - thank you for your leadership in making automatic enrollment a reality.

"Mr. President, you understood the potential of this idea from the beginning, and your leadership was critical to getting it across the finish line.

"And to those listening - these accounts have been created for you, but please take the time to claim your child's account so that their investments can start today.

"I'm proud of what we accomplished together-and even more excited about what it will mean for millions of American kids in the years ahead."

BACKGROUND

Trump Accounts, legislation authored by Sen. Cruz and established by law as part of the Working Families Tax Cuts Act, are private, tax-advantaged accounts for every American child, seeded with a $1,000 investment from the federal government for children born between Jan. 1, 2025, and Dec. 31, 2028. Trump Accounts, available now for all children 18 and under, allow for contributions from individuals, family members, and friends up to $5,000 annually. Employers may contribute $2,500 per year.

In September, Sen. Cruz joined Michael Dell, Brad Gerstner, Frank Bisignano, and dozens of Texas business leaders in Austin for a press conference and executive roundtable highlighting how employers can make a generational impact on American families' financial futures by contributing to Trump Accounts for their employees' children.