Trump Touts CEO Pledges on Tax Bill’s Child Savings Accounts (1)

President Donald Trump touted a provision in his tax bill that would deposit $1,000 into an investment account for babies born in the next few years alongside corporate leaders who said they would aid the effort.

Under the initiative, the federal government would make the one-time contribution into a tax-deferred, low-cost index fund that will track the overall stock market, White House officials told Bloomberg. Guardians of the children would have control over the accounts.

Trump said Monday at a White House event that the accounts would help “countless American children to have a strong start in life.”

“In addition ...