Treasury Secretary Scott Bessent called on business leaders and philanthropists in Texas to expand their support for Trump Accounts, a federal child savings initiative designed to build long-term financial security for the next generation. Speaking at a Dallas gathering, Bessent emphasized that the program’s success depends not only on government participation but also on private-sector engagement, framing the effort as a national investment in future prosperity.

Trump Accounts were created under the 2025 One Big Beautiful Bill as a tax-advantaged savings vehicle for children under the age of 18. The federal government provides an initial $1,000 contribution for every qualifying child born between 2025 and 2028, with funds placed in investment accounts that grow on a tax-deferred basis. Families, employers, and private donors can add additional contributions over time, allowing compounding returns to generate a meaningful asset base by adulthood.

Bessent highlighted the role of state-level leadership, noting that Texas—with its large population, strong business environment, and culture of philanthropy—has the capacity to become a model for nationwide participation. His remarks encouraged corporate executives and charitable organizations to match or supplement the government’s seed funding, accelerating wealth-building for children across income levels. The appeal reflects a broader administration strategy to integrate public policy with private capital to expand economic opportunity.

The initiative has already attracted significant corporate interest. A multibillion-dollar pledge from a major technology company late last year signaled growing momentum and demonstrated how large-scale private contributions could amplify the program’s impact. Supporters argue that early-life investment accounts can help address intergenerational wealth gaps, promote financial literacy, and provide young adults with resources for education, entrepreneurship, or homeownership.

From a fiscal perspective, the structure of Trump Accounts is intended to encourage long-term saving rather than short-term consumption. Tax-deferred growth increases the effective return on investment, while restrictions on withdrawals are designed to ensure that funds are used for wealth-building purposes. Advocates view the model as a market-oriented alternative to traditional entitlement approaches, emphasizing ownership, personal responsibility, and capital formation.

Critics have raised questions about funding priorities and administrative complexity, but administration officials contend that leveraging private contributions reduces the burden on federal spending while expanding the program’s reach. By aligning incentives for families, employers, and donors, policymakers aim to create a scalable framework that can operate across diverse economic conditions.

Bessent’s Dallas address underscores the administration’s effort to localize national policy initiatives and build regional coalitions that can drive participation. The message that “everything’s bigger in Texas” was used to frame the state as a potential leader in enrollment and funding, with the expectation that visible success there could encourage replication elsewhere.

As implementation moves forward, the trajectory of Trump Accounts will depend on sustained private-sector engagement, market performance, and public awareness. If participation meets projections, the program could represent one of the largest federally seeded child investment efforts in U.S. history, reshaping how families approach long-term financial planning and expanding access to capital for a new generation.