SCOOP: Sen. Katie Britt kicks off launch of Trump Accounts alongside Secretary Bessent, Speaker Johnson, and more

Trump Accounts, a central component of the Republican Party’s reconciliation bill and implemented by Treasury Secretary Scott Bessent, offer a “historic and innovative” opportunity for Americans, Sen. Katie Britt (R., Ala.) told the Washington Reporter.

Trump accounts create an “opportunity for our nation to invest in the next generation, furthering the president’s and the Republican Party’s longstanding commitment to being the party of hardworking parents and families,” Britt, who helped shepherd the accounts into law during the GOP’s crafting of the One Big, Beautiful Bill (OBBB), told the Reporter.

“There are four ways Trump Accounts will be funded,” Bessent explained. “First, through an initial $1,000 seed from the government; second, through the donations of parents, friends, and employers; third, through the generous donations of wealthy Americans and philanthropic organizations; and fourth, through donations from state governments.”

“Under Trump Accounts, Wall Street’s success becomes Main Street’s success and vice versa,” he added.

During Bessent’s announcement, he lauded philanthropists Michael and Susan Dell for helping to jumpstart the program. The duo gifted $6.25 billion to the program, which will help 25 million American children under the age of 10. “This is the single largest private commitment to U.S. children in our nation’s history,” Bessent remarked.

Bridgewater Associates co-founder Ray Dalio also joined what Bessent termed the 50 State Challenge “to rally the nation’s philanthropists around a common cause.” He expects that Dalio will donate $75 million, but added that Bridgewater had a successful 2025, so the total donation could be greater.

Bessent was joined during the announcement by Britt, as well as by Speaker Mike Johnson (R., La.), who noted that “America needs this” idea. “We inherited a real mess,” Johnson added. “We had four years of Bidenomics. We all know what that did to people’s pocketbooks.”

During the event, Britt interviewed Joe Gebbia, the co-founder of AirBnB, who was appointed by President Donald Trump to serve as America’s first Chief Innovation Officer. The pair discussed how the government can integrate technology to better serve American families.

“I was proud to support the inclusion of Trump Accounts in the Working Families Tax Cuts Act, and was pleased to join Secretary Bessent to discuss the initiative,” she told the Reporter.