Trump Accounts Summit Minaj Leavitt

Trump Accounts Summit

Donald Trump and others speak at the Trump Accounts Summit. Read the transcript here.

Copyright Disclaimer

Under Title 17 U.S.C. Section 107, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is permitted by copyright statute that might otherwise be infringing.

Cheryl (00:00):

... as a grandparent, as a parent, it's exciting to be a part of that. And as a grandparent, it's nice to know you can put money into an account for your grandchild or your child. My sister is also here today, Dr. Becky Hines. We were talking about what's great about this account, because at some point when your child is maybe 12 and maybe your grandmother asks your 12-year-old girl what she wants for the holidays, and as a grandmother you're going to get her that ugly sweater that you love to give, but maybe she'll say, "What I would rather have from you is the $50 to put into my account, because I'm saving and this is what I want to do with the money."

(00:53)
So it's a very exciting, empowering tool and learning tool. And so it's fun. It's like we said, they're invested emotionally and financially. So it's something that you can work together as a family. And we were talking about having a lot of siblings growing up. And I have-

Rebecca (01:18):

I asked you if it was crazy seven because it was crazy.

Cheryl (01:21):

Yeah, because how many did you have? How many siblings?

Rebecca (01:23):

I'm the fifth of seven.

Cheryl (01:29):

Yeah, seven. So when you're in a big family like that and you're one of many children, a lot of times you don't have your own thing. You're waiting to get the hand me down dress from your sister or your old bike from your brother. But so to know that you have your own accounts, and you have control over it, you get to decide what you're going to do with it. It's not your parents deciding for you, it's when you're 18, you get to decide. It really gives someone a feeling of pride, a feeling of individuality and independence.

Rebecca (02:08):

[inaudible 00:02:08].

Speaker 1 (02:08):

Absolutely. And it's a huge shift, I think, into that individuality, that typically when we were growing up, the idea was you had a college investment account, you were expected to use that for tuition dollars. Rebecca, you said your son wants to start a business when he turns 18 and wants to make sure that he has a chance to be an entrepreneur. What an incredible foundation to be able to give him. When it comes to investing in your own American dream for teenagers now, and children who will grow up with these accounts, do you think that's going to create more of an entrepreneurial spirit with this next generation?

Rebecca (02:40):

Absolutely. Going off what Cheryl was saying, whether you're in a big family or small family, just that specific investment to them as an individual is over and over and over, because kids are ... It's repetition, right? And just they can start to dream their dreams every time you bring that up to them. And there's something else I was going to say, pregnancy brain.

Speaker 1 (03:16):

We've all been there, buddy.

Karoline (03:17):

I hear that too.

Rebecca (03:19):

But yeah, I do. I see that in my son because ... But I really want to bring up the Moms for America organization, because I really encourage everyone to visit the website if they can, if you are ... They have a Grammy Grizzlies' group too. So-

Cheryl (03:41):

[inaudible 00:03:42] Grammy Grizzly.

Karoline (03:42):

Grammy Grizzly, Cheryl.

Rebecca (03:44):

Fun. But it's like it just gives encouragement. Actually, they talk a lot about health. I'm sorry, I know that's not going to [inaudible 00:03:57].

Cheryl (03:54):

I enjoy the name.

Speaker 1 (03:54):

It's a privilege. It really is.

Rebecca (03:58):

No, it is a privilege. I actually wanted to ask you that. Do they call you grandma, or what do they call you?

Cheryl (04:05):

They call me Cher Bear.

Rebecca (04:05):

Cher Bear. You are a Grammy Grizzly.

Speaker 1 (04:05):

[inaudible 00:04:06]. That's perfect.

Cheryl (04:05):

I am [inaudible 00:04:06].

Rebecca (04:05):

Cher Bear, that's so cute.

Speaker 1 (04:14):

That's powerful.

Cheryl (04:14):

I love it.

Rebecca (04:20):

But I can't help but think of that when I think of the talks that I will have with my children for their investment account, because it just goes back to the foundation of the dream that our founding fathers had. And yeah, so ...

Speaker 1 (04:43):

Karoline, I'd be curious to get your thoughts on this. The media is here today and you deal with media day in and day out with your job. I'm already starting to see an interesting reaction to the idea that we do have a fertility crisis and a marriage crisis, a family crisis, as some sort of partisan political talking point, that it only applies to one side of the political aisle today. And I'm sure there will be many who come out saying because it's called the Trump Account, this is not a good idea for our society or a positive investment in the next generation.

(05:12)
What message would you tell the media and those who might be skeptical about this, that this really is about all of our families and about the entire American people?

Karoline (05:21):

Well, we will try our best to get fair coverage on these accounts. And I do think for the most part, the coverage has been positive and fair, because it is such an overwhelmingly positive and nonpartisan issue. However, it is unfortunate that most Democrats on Capitol Hill voted against the piece of legislation that signed these Trump Accounts into law. So remember that, Americans, who's voting for these Trump accounts and investments and who is not.

(05:47)
But I would just add that it is unfortunate the bias in the legacy media, we do fight it every day, but I would encourage everyone who's here to please cover this fairly and honestly, because this is an incredible initiative that really has the potential and the power to change lives. And that's why the president is showing up here today. We've already done a few Trump Account events with him over at the White House, but he wanted to come in just a few minutes, I believe, to speak with all of you directly about this again, because it is such an incredible achievement for our country and for our children.

(06:22)
And it's something that, to Cheryl's point, red or blue or nonpartisan, I think all Americans can and should be able to celebrate, and that includes those in the media.

Speaker 1 (06:32):

One more logistical question I had for you, Karoline, about the program is something that really I haven't seen any coverage about in the media at this point. We know that if your baby is born within a certain window, they'll have the $1,000 bonus, which is a fantastic investment in their future. Parents can contribute up to $5,000 annually from a tax-deductible standpoint, which is amazing. But employers are also eligible to contribute to these accounts, and I haven't seen anyone talk about that. Can you share a little bit more about that?

Karoline (06:58):

Yeah. So just to go back to the eligibility, if your child was born January 1st, 2025 through 2028, you're eligible for that $1,000 seed fund to get the Trump Account up and running from the United States government, and then an additional $5,000 each year contributed by yourself, or others, into the account, maximum $5,000.

(07:22)
Employers are also allowed to contribute, which I think is an incredible thing for businesses, small, medium, and large, and it's something that I believe, as a young mother myself, and having a lot of friends who work in the private market and private sector, employers should use as a recruiting tool. How wonderful when you are trying to hire the best and brightest talent coming out of our colleges and universities to really use this as a recruiting tool for these young people who want to work at these big companies and corporations. You can tell them, "We'll invest in you and not just you, but also your future and your children."

(07:59)
So again, this is just a beautiful example of President Trump knowing that the private sector often works best. And while he's the head of the entire United States federal government, finding ways to work with entrepreneurs and business men and women who are enabling the American dream. And those great men and women should not be demonized. They should be celebrated and they should have a partnership with this administration, and administrations to come as well.

Speaker 1 (08:27):

Cheryl, we've talked a couple of times about your husband's effort to make America healthy again, which we are so deeply grateful for. And I'm curious to get your perspective on financial security as an element of that. Health certainly is multifaceted when it comes to what we eat, the pharmaceuticals that we take, our mental health and spiritual health, but what will this mean for the next generation of Americans?

Cheryl (08:48):

I think it really speaks to mental health. Like I said, when I was younger and when you don't have money, it is very stressful and it's hard to talk about. You internalize it. You oftentimes don't ... If you're a parent, you're not sharing that with your children. So this is a positive way to talk about finances, to plan for the future, to have a peace of mind. Even as a parent, I could probably name 50 parents who have kids who said, "The day they're born I'm going to start an account." But the day they're born, you're already working 24 hours a day and that may not have happened.

(09:40)
And so for a parent, it gives you a peace of mind that there is an account there for that child, only for that child, so it brings you a sense of calm. You're talking about money in a positive way, which brings you some mental health ease. So I do think when you're talking about MAHA and you're talking about a healthy lifestyle, that also includes finances because you can take care of yourself all day and eat right and exercise, but if you are under so much stress because you don't know how to make financial decisions, it will affect your health. So I think this program is, like we're saying, it's bipartisan, it's not about politics, it's about children and families, and I think it's really a great program.

Speaker 1 (10:45):

In our last few minutes together, I would love to switch gears a bit as we await the president's arrival here to just ask what this is going to mean for moms, and what legacy you all are leaving as a mom for your family? Parenting has been so demonized in so many different ways in our culture throughout our lifetime, and I think young women especially have been told such negative things about the experience of raising the next generation, of experiencing pregnancy, and all of the beautiful things that come along with that.

(11:12)
We have two pregnant moms here on stage today, and very busy women. We're all working women in our own way, but I think we would all say our family is certainly the most beautiful thing that has ever happened to our lives. So if you can share a bit about what that means for you and how you will encourage the next generation to experience that for themselves as well, that would be phenomenal.

(11:29)
Rebecca, we can start with you.

Rebecca (11:31):

Thank you. So I never really knew who I was until I became my mom. And I know that we sound corny, but it's absolutely true, and I didn't know what I was capable of either until I became a mom. And going back to what Cheryl was saying, I will testify on that. That was me in my 20s and even into my early 30s. Mostly my 20s when you should be like, "This is me. It's my life. I'm going out into the world." But I didn't have that.

(11:58)
But yeah, motherhood for me has been a constant refining process and it's never done. God does so many things through my children to me as a person, and you never know how many faces selfishness has until you have children and you're like, "I'm starving and I'm tired. When is it about me?" But you're always putting them first, and it's the biggest sense of purpose I've ever felt, and it's the biggest dump of joy at the end of the day. And I don't have ... I've done a lot of cool things in my life, but there's absolutely nothing that I can compare it to.

(12:50)
It's the most rewarding thing and it also has a very ... There's a stigma attached to it. Like your life will be over if you have kids, or you're not going to be yourself anymore, but that's right. You're going to be someone better. You're going to be someone way better and you're going to meet a part of yourself that you were destined to be. And again, I don't want to sound so corny, but it's really by God's design, we are the life givers. We are the heartbeat of the home and we're the heartbeat of the nation and we are responsible. We have the privilege to have the responsibility of investing in little humans that love you so much and putting them out into society. And if we just get back to that, I think that is another part of the equation in America.

(13:42)
And I just want to point just one thing, like George Washington, his mother was ... You can go throughout his journals and things and he loved his mother. His mother did everything to create who he was really. And I didn't even know this, he was about to join the British Royal Navy. Did anybody know that? And she was like, "I don't think so. You're going to pray and you're going to ask for God's direction." And so he did. And so, anyway, knowing that about our history I think is very important for moms as well. And there's just so many people, not just in America, but around the world that had such a big impact in shaping world's history and American history.

Speaker 1 (14:25):

I don't think any of us could have said it better ourselves, so very powerful. Thank you all so much for your role in serving our country in different ways and serving your beautiful families. And thank you again to President Trump-

Cheryl (14:41):

Thank you.

Speaker 1 (14:41):

... and to our treasury department for this incredible investment.

Karoline (15:03):

Thank you.

Speaker 1 (15:03):

Thank you all.

Rebecca (15:03):

Thank you.

Harold Hamm (15:06):

Sorry I can't be there in person with such a tremendous gathering of leaders and philanthropists. This first year under Donald Trump's leadership had been nothing short of remarkable. We've never seen a president accomplish so much so quickly for the American people, and Trump Accounts are yet another great example of that progress.

(15:23)
We believe this is a smart, forward-looking way to invest directly in young children and create opportunity that last for generations. I want to recognize Michael Dell and everyone in the room today who is helping make programs like this possible. At my company, Common Resources, we want to lead by example. We encourage other companies to join us in working alongside the government to implement similar programs. We plan to do this in every state in which we operate, doing our part to give back and further build upon this program and leave a lasting legacy for the next generation.

(16:09)
Thank you, President Trump, for your outstanding leadership.

Ryan McInerney (16:17):

Hi, I'm Ryan McInerney, the CEO of Visa. Today marks another important step forward in what has been a shared and unifying goal, helping Americans build long-term financial security for the next generation. Visa has been a supporter of this effort since the beginning. With this bold initiative, the administration is truly investing in the American economy, helping families fund their kids' long-term financial security.

(16:45)
Visa was proud to be among the first companies to announce plans to incorporate Trump Accounts into our employee benefit plans. Additionally, Visa is going to work with our bank partners to enable millions of Americans to use their Visa credit card rewards to fund Trump Accounts. It's a simple and powerful way to turn rewards into savings, to help families save for their children's future through everyday spending.

(17:15)
Through this new program, we are playing a part in this important effort to connect more people to the global economy, unlocking another channel for families to support their children and ensuring the next generation has a stake in our country's future prosperity.

Arvind Krishna (17:36):

I'd like to thank President Trump and the administration on the launch of the new Trump Accounts. This is a simple and powerful way to give American kids a great financial headstart. IBM is proud to build on the foundation that you are providing. In addition to the $1,000 investment from the US Treasury, IBM will contribute an additional $1,000 dollars for US citizen children of IBM employees born between 2025 and 2028.

(18:05)
IBM will add an additional $1,000 contribution when parents contribute $4,000 within 24 months of the child's birth, combining the government's investment with IBM and parental contribution, a child's account could start at $7,000 or more by age two. Without any additional contributions, this balance will generate tens of thousands of dollars by age 27, a great advantage towards education, housing, or launching a career. Thank you, President Trump. IBM is proud to support this initiative and help build brighter financial futures for the next generation of Americans.

Hock Tan (18:49):

Mr. President, Secretary Besson, thank you for allowing me to participate in your historic summit today. At Broadcom, we focus on long term. We create technology that powers the modern world, from the chips in our iPhones to the AI in our data centers, but we know that the most critical element for America's future isn't silicon. It's the financial security of our next generation. The Trump Account program is a visionary set towards making every American a shareholder in our nation's prosperity. It ensures that as our economy grows, driven by the very AI and semiconductor breakthroughs we develop, every child will have a front row seat to that value creation.

(19:44)
So today, I'm proud to announce that Broadcom is joining this mission. For every child born to our US employees in 2026 through 2028,

Hock Tan (20:00):

Broadcom will match the federal government's contribution with an additional thousand dollar deposit into their Trump Account. Combined with the president's generous run, this will give the children of our employees a good start to building their own foundation for a bright future.

(20:24)
And by doing this, we aren't just making a contribution. We are investing in the future engineers, entrepreneurs, and leaders who will keep America the most innovative nation on earth. Thank you.

Speaker 2 (20:49):

Ladies and gentlemen, please take your seats. The Trump Account Summit will resume momentarily.

Speaker 3 (20:50):

Now you go on. Please, please, please. Darling, please take my hand. Please, please, please, don't go. I love you so.

(20:50)
[inaudible 00:24:52].

Speaker 4 (20:50):

Ladies and gentlemen, the 45th and 47th President of the United States, Donald J. Trump.

Speaker 5 (24:53):

I'm proud to be an American where at least I know I'm free and I won't forget the men who died, who gave their life for me and I gladly stand up next to you and defend her still today, because there ain't no doubt I love this land, God bless the USA.

(24:55)
From the lakes of Minnesota to the hills of Tennessee, across the plains of Texas from sea to shining sea, from Detroit down to Houston and New York to L.A, well there's pride in every American heart and it's time we stand and say I'm proud to be an American where at least I know I'm free and I won't forget the men who died, who gave their life for me and I gladly stand up next to you and defend her still today, because there ain't no doubt I love this land, God bless the USA.

(24:55)
I'm proud to be an American where at least I know I'm free and I won't forget the men who died, who gave their life for me and I gladly stand up next to you and defend her still today, because there ain't no doubt I love this land, God bless the USA.

Donald Trump (29:39):

The first time I walked into the stage, I heard that song, I liked it. It was 10 years ago, and he's been with us all the way, fantastic guy. There's never been a man that made so much money from one song. And I'm happy about that. But I'm delighted to be back in the beautiful Mellon auditorium, wonderful family. Tim Mellon is a great guy. He's the current version of the Mellons, fantastic person, to celebrate a thrilling new milestone for America in the first generation of Trump Account children. Trump Account children.

(30:22)
For the first time ever, we're going to give every newborn American child a financial stake in the future. Headstart to life, a fair shot at the American dream, something people don't talk about so much, at least not for the last four years they haven't been, but now they're talking about it big this last period of time.

(30:40)
It's been unbelievable. When you see what's going on with our economy, the tremendous investments that's been made in our country. We have over 18 trillion dollars coming in. The most I think was three. That was 10 years ago, another country, not even our country. We have 18 trillion dollars and we have thousands of businesses being built all over the country and hundreds of massive plants, so big, car plants, AI plants. With the support of the men and women here, this beautiful room over the next 15 years, we're going to put three to four trillion dollars of wealth into the hands of young Americans who otherwise would have really started out with nothing. It's really an amazing thing because it gives young children that start out with really nothing. And we give them, boy, it's more money than anybody could imagine. From their standpoint, they'll have a real start in life.

(31:40)
And that's why decades from now, I believe the Trump Account will be remembered as one of the most transformative policy innovations of all time. And I've done a lot of them. The tax cuts, we've done a lot of them, more than I think anybody. I think this is going to be one of the most outstanding. Last summer, I signed the great Big Beautiful Bill delivering...

(32:01)
It made this possible too, it actually made this possible. Without it, we wouldn't have been able to do this. Delivering the largest tax cuts in American history, including no tax on tips, no tax on overtime, no tax on social security for our great seniors. And we did another thing, when you buy a car now, you get a deduction on the interest payment if you borrow money. So think of it, rich people get so many deductions. I'm the king of deductions. I love deductions. But people, middle income people, never had a deduction before.

(32:38)
Now they're getting a deduction on interest, they buy a car, that's going to have a huge impact on the automobile. By the way, there's one proviso. It has to be made in America. If the car is made in another country, no, thank you. But they're all going to be made in America pretty soon because we have factories coming in from Canada, Mexico, Japan, Germany, all over Europe.

(33:01)
They're all coming here to make their cars because they don't want to pay tariffs. Very simple. It isn't very complicated. You'll see those numbers starting to produce. That's why you see these massive construction numbers. And soon when those things start opening, you're going to see employment and you're going to see wealth creation for middle income people like you've never seen before. Every single Democratic Congress voted to raise taxes on hardworking citizens. Their whole campaign was raised taxes. I've never heard of it before. All my life I grew up and I hear politicians, "We will cut taxes." This is the only group I've ever seen, "We're going to raise your taxes."

(33:42)
No wonder they lost. Actually, there were other reasons also. But together with the majorities in the House and Senate, we overcame their obstruction and we put more money into the pockets of every working American than anyone thought even imaginable. Perhaps no provision of the Great Big Beautiful Bill will prove more consequential than Trump accounts. Under this program, the US government will automatically create a tax-free investment account for every newborn American child. Something that nobody really would have even thought of.

(34:21)
There were some brilliant people that thought of it for a long time. They're here with us today. We'll introduce a couple of them, but nobody really... I mean, I've had friends and the top people in business, they came up to me, "Whose idea was this? This is great." They said, "I never thought of that."

(34:38)
We'll fund those personal accounts with a seed contribution of $1,000, which will compound and grow over the course of their lives and can grow into very, very substantial numbers. Parents, employers, churches, states, and loved ones will also be able to add up to $5,000 in additional money for those accounts.

(34:59)
And with every modest contribution, Trump Accounts should reach at least $50,000 in value by the time the child turns 18 and could be very substantially more than that. With slightly greater contributions, the typical account will grow to 100,000, 200,000, and can even grow up to past $300,000 per child. And we think most likely, the most likely case is in the 200,000, 300,000 range. The size and scale of this wealth will go off all government programs ever created to benefit America's youth. There's never been anything like this. That's why everybody's talking about it. Even really people that truly hate me are making this investment. One person hates my guts. He put a billion dollars into it. I said, "You must like this program a lot because you can't stand me." And he said, "I do, but I do like you more than you think." They liked me more in the last year than they liked me before.

(36:02)
Although we had a great first term, we can't forget that we are the greatest economy in the history of our country, but this is blowing it away. Sorry.

(36:13)
Every president... Thank you. Every president in modern history has left our children with nothing but debt. But under this administration, we're going to leave every child with real assets and a shot at financial freedom. We'll ensure that Americans don't just end their lives with a nest egg, but instead all Americans will begin their lives with a beautiful nest egg. There's never been anything quite like this. I want to express my tremendous gratitude to a very special couple who believe so strongly in this vision right from the beginning that they personally donated $6.25 billion. That's six billion 250. Even the 250 is a lot of money when you think. Nikki, do you hear that money? That's big even compared to wrapping all the money she makes. She's hearing a number like that. She say, "How many songs do I have to make to catch that?" But amazing, amazing thing. Six billion 250 million dollars to fund Trump accounts for an additional 25 million children aged 10 and under. And that's Michael and Susan Dell. Two incredible people. Where are you, Michael? Where's Michael? Stand up, Michael. What a great guy. What a great guy.

(37:40)
I tell you, he didn't do it for his business. He did it, I guess probably would have been better off not to. That's a lot. But you know what? I hope everybody goes out and buys Dell computers. My son, I told you, Baron, he loves that computer. I don't know what the hell you're doing to it, but he likes it. But I just want to thank you very much, and Susan.

(37:58)
It's unbelievable. Really unbelievable what you've done. So Michael and Susan made this donation in recognition of America's 250th anniversary because there's no better way to honor America's history than to invest in America's future. That's what they did. And this is perhaps the largest, one of the largest certainly, but perhaps the largest private donations of all time. That's a lot, six billion 250 million. And somebody did say that, a friend of mine, very rich, he's going to put up a hundred million dollars. And he said, "Think of it, the 250 that Michael has is a lot more than mine." And I haven't even talked about the six billion. But anyway, it's amazing when Michael can start off with very little money and build a fortune where he can routinely make such a payment and investment in the youth of our country. Michael, you're great. Thank you, man.

(38:56)
Thank you. And I also want to say hello to and thank some very special people that have been with my administration and really become friends of mine. On occasion, I have little arguments, but generally I would say really good. And who's doing, and start off with a man who's doing a phenomenal job, Treasury Secretary, Scott Besent. Scott.

(39:22)
Thank you very much, Scott. And he loved this right from the beginning, Scott, right? He saw this and he said, "Wow, what a great idea that is. This is hundreds of thousands of dollars by the time they reach 18, but we can go 21, they can keep it in longer." But he saw this right from the beginning. He said, "Wow, this is great." And we have some other ideas that will be great, but this was one that just hit everybody. This was an easy one to think about.

(39:50)
And again, that bill allowed us to do this. Otherwise, can you imagine trying to get this approved by Democrats and Republicans? Let's get together. We got it done.

Donald Trump (40:00):

Also a man who's made your life much easier, because those of you that are building plants and equipment so you can give your money, ultimately, you're giving your money away anyway, no matter how much you make, but he's made it a lot easier. Approvals for big plants used to take 20 years, 25 years and then you'd get rejected actually. You'd go 20 years environmentally and they'd reject you. If I think of it, a guy starts young. He starts an approval process. By the time he's middle-aged, they take a vote and he loses. It's not worth it. But we have a man that's getting these things done in a matter of weeks and the biggest plants in the world are being built right now and he's getting them done fast. He's getting electric plants built, so that we can buy them. They're paying for them.

(40:46)
They want to pay for them, so they can open up their AI plants and they can open up their automobile plants and lesser so. The automobiles, believe it or not, take much less electricity. You're going to have to tell me why you need so much electricity to create information. I said, "What's your primary product?" "Information." "Oh, I see. Information. It better be damn good information for the kind of money." But Lee Zeldin is a star and he has been incredible. Thank you, Lee.

(41:19)
And I have to say this. Scott and I were talking about it. So Lee went out to California after the fire, which would have never happened if they would have let the water flow from the Pacific Northwest, which everybody's been telling them, including me. Now, I just opened it up. We literally sent in the military to open it up. But if they would have let, you wouldn't have had the fires, because you would have had a little thing called old-fashioned way, water in the fire hydrants as opposed to empty fire hydrants. You would have had water and most of the houses had the sprinklers on top. No. There was no water in their sprinkler in their living room. All those fires wouldn't have started. But they did start and I will say that the most difficult permit was Lee. I went there a couple of days after the fire. Met so many people on the streets.

(42:08)
There were, many cases, fairly wealthy people. Some very rich people. Some of the best houses in California burned down. And I said to them, "So what do you want to do? " They said, "Sir, we want to start immediately. Immediately." "Well, we'll get your permits." Now, the hardest permit, Lee, was the federal permit. Is that right? He got everything done in 20 days, right? The whole thing? Is that a correct statement or less?

Lee (42:30):

20 days.

Donald Trump (42:31):

20 days. So he got everything done, 100% ready to go and I went for a meeting and this mayor, who's a grossly incompetent person, she said, "We're going to try and have the permits done within two years." Remember that? I got into an argument. I said, "You mean within two days, right?" She said, "No." And I'm meeting all these people as I'm walking along the streets with the fire departments and policemen and they're all devastated.

(42:59)
They're still smoldering. The environmental protection agency local said, "Don't go on your property, okay?" We said, "Okay. Don't worry about it. Any problem is gone. Any problem is burned. Any germs are burned. They're burned. They were burned." Nobody's ever seen anything like it, but all so unnecessary that it happened. But we got it all done in 20 days, the whole place. And yet now, still, more than a year later, they don't have permits. Almost nobody is building. So I haven't told this to Lee Zeldin yet, but I'm going to put you in charge of getting permits. I think we're going to override the local authorities, because they're never going to have it.

(43:45)
And when I was told that there's a provision where you can override the local authority to get things done, because really, to me, it's a national emergency. What they've done to these people is horrible. It's just horrible and they'll still vote Democrat. Can you believe it? After all, they get used to it. Although I must say we converted many. We'll probably convert a lot more, but I just want them to get into their houses. And I don't want a big section of the area built into low income housing.

(44:16)
They want to put low income housing right smack in the middle of it and that's not the American dream. You didn't do that. And low income housing is great. I built a lot of low income housing, but you don't put it there. This is one of the richest neighborhoods in the world and I recommend it strongly that everybody gets the immediate approval to build a house and you give them a 10% bonus, so they can build a house 10% larger than they had before if they want for all the suffering they've been caused, so they can build a little bit bigger house. So Lee, if you want, will you accept the job?

Lee (44:51):

[inaudible 00:44:52].

Donald Trump (44:52):

Huh? He's under a lot of stress. Okay. All right. Override those people. Those people are incompetent. Between the mayor and the governor, they're incompetent. They'll never get approved. They'll never get approved. So do whatever you can, Lee. There's a provision that you're allowed to do it and I'll sign it in two seconds, frankly. It'll never happen. I also want to introduce a man, Frank Bisignano. Now, if you met Frank and if you knew Frank, he's quiet, but he's actually a stone-cold killer. He was one of the biggest people in business. He would be sitting with you. In fact, now he's got a better seat, because he's working for the government. He's the head of a lot of things, but the job he's done in this country is great and he's working on social security and a thing called the IRS.

(45:46)
He's working with Scott on both of them really, but the IRS in particular and he is a fantastic man. Where are you, Frank? Took the biggest pay cut in history. He went from being paid 35 million a year to being paid about $35 a year. I think you may have taken the biggest pay cut in history. He'd be close. He'd be one of the top five, because a few people have done that. A few billionaires have left. But Frank has gone from one of the most successful people. He worked with Jamie Dimon. I don't think Jamie likes me too much nowadays, but that's okay. I never minded that. But Frank, you are fantastic and you're doing a great job. We appreciate it. Thank you. And thank you to the family. The director of National Economic Council. A man who's in the news a lot. My only problem is I don't want to lose him. I will tell you that he's working from a big deficit, because I don't want to lose him. He's so good. Kevin Hassett. Thank you, Kevin. Thank you, Kevin.

(46:49)
A friend of mine. A senator who has been unbelievable. She's a tremendous woman. Married to a great football player. Her husband is a massive man. This guy, he played in the NFL, I guess, for 11 years. He was top of the line player. I met him. I said, "That's not a normal situation. Look at this guy." This guy was seriously powerful, big and he's as nice as he is big. And she is one of our best senators. Senator Katie Britt. [inaudible 00:47:24]. Thank you, Darling. From Alabama. I love Alabama. We love Alabama. Marsha Blackburn is an incredible person. Unfortunately, she's running for governor. She's running for governor of Tennessee. I'd love her not to. I begged her. I said, "Marsha, we don't want to lose you in the Senate," but I have to say they're lucky. They're lucky to get you, because you are a talent and a great person and you've been with me all the way and I appreciate it and you're a very special person."

(47:59)
Marsha, stand up, please. And a Senator who's a friend of mine... You wouldn't believe that, because we went through a rough campaign together. It was nasty. We got along so well and we actually did joint rallies. Can you believe it? He wanted to get some of the action, so he's smart. He said, "Would you do a rally with me? " But we did joint rallies and the press used to say, "Will you ever start fighting?" I said, "Don't worry. It'll come." He said the same thing. "Don't worry. It'll come." He's a very tough guy, very brilliant guy. In fact, when I said, yeah, because I had never gone into a debate before officially, my whole life was a debate, but I'd never debated before officially and I said, "Let me find out about my competition. Who are these people?" Because many of them, there were senators and mostly senators and governors.

(48:51)
And I said, "Well, why don't we start with this guy named Ted Cruz?" Well, he was the best student at Harvard. Number one in his class. He was the best student at Princeton or something and he was the national debate champion for three years and I said, "Well, I don't like that. I didn't know that. I don't like that." And he was very good debater. I will tell you that he's a smart guy, but I'll never forget, because he was the first one I looked at. I've just joined the ranks of politics and it was the Rosie O'Donnell. Remember that? Only Rosie O'Donnell? Ireland, you can keep her. Ireland is not as tremendous. The head of Ireland said, "Are all your people this way? We don't want that." But Ted Cruz has one thing that I love. If I ever have problems, because it's hard to get people approved, he's a brilliant legal mind. He's a brilliant man. If I nominate him for the United States Supreme Court, I will get 100% of the vote. The Democrats will vote for him, because they want to get him the hell out and the Republicans will vote for him, because they want to get him the hell out too. Where's Ted? Where are you, Ted?

(50:12)
And with all of that being said, he's a great guy too. He's a great guy. We've become friends and he's a very effective person too. Thank you, Ted, very much. The man knows we're about tax and anybody that I know. Jason Smith. Congressman. Wonderful person. Thanks, Jace. Thank you, Jason. Great job. Idaho Governor Brad Little. Terrific guy. Thank you, Brad. Georgia Lieutenant Governor Burt Jones, who hopefully will be the governor of Georgia very shortly. They have a big race. He's leading by a lot in the polls. He was outstanding as a lieutenant governor. He's great everywhere and I've endorsed him fully, so I don't want to do anything that you don't know about. I have given him my complete and total endorsement. Burt Jones. Where are you, Burt? Thank you, Burt. Great guy. Chief Design Officer of the United States, Joe Gebbia. Joe, thank you.

(51:11)
Great idea. Great ideas. Also, we have Mr. Wonderful, Kevin O'Leary. I like Kevin O'Leary. Where's Kevin O'Leary? Come on out. Kevin, it's so nice. He's with me 90% of the time, but when he's with me, he's really with me. Great. And we got the TikTok deal done. Who the hell thought we could do that, right?

Kevin O'Leary (51:30):

[inaudible 00:51:31].

Donald Trump (51:32):

I know. I wish. He wanted to buy TikTok so much and I would've done it, but his price was slightly lower. Slightly. He's fantastic. You're an entertainer, businessman. You had the whole quality, so I know what you did. Having done The Apprentice, I see you on television. You have what it takes, so I appreciate it and thanks for all the nice things you do. And Cheryl Hines. Where's Cheryl? Oh. Married to a very, very powerful, important man and I said, "I'll tell you, Bobby, she's strong." I watched her in an interview. I said, "Bobby, you keep him in line, don't you, huh?" She said, "Yes. I do." She's got no choice. He's doing a great job and so are you.

Cheryl Hines (52:18):

Amazing job.

Donald Trump (52:20):

Yeah. He's doing a great job. He's doing a very different kind of a job too and he's doing things that people have wanted to do for a long time and they didn't. They didn't have the courage, so say hello to Bobby, okay? We're also pleased. My daughter, she went crazy when she heard that this was happening. "I want to go." She happens to be in the wrong state right now for that, but when she heard that there's a certain person that's here who's the greatest and most successful female rapper in history, Nicki Minaj. Come on.

(52:56)
And Nicki makes a lot of cash. Not as much as Michael Dell. Not quite. Not as much, but that's okay. But Nicki makes a lot of money and she's generously stepping up. She's investing hundreds of thousands of dollars in Trump Accounts to support the children and really the children of her incredible fans. That's great. Focus on that. Why should you give to somebody else's fans? Give to your fans. I like that. And I just think she's great. I've been hearing so much over the years, because I didn't know Nicki and I've been hearing over the years, she's a big Trump supporter, a Trump fan and she took a little heat on occasion. I'll tell you, we did pretty well with that, with your community as we say. But Nicki has been an unbelievable supporter. She gets almost as much as Mr. Wonderful over here.

(53:51)
He's been another one that's been so good. But I'd like to ask you to come up, Nicki. Come on up. Come on. She's been such a great supporter and a great supporter of Trump Accounts. And I said, "I am going to let my nails grow, because I love those nails. I'm going to let those nails grow." She's so good. She's been MAGA. What can I say? She's been with us all the way, right, Alex? She's been with us all the way and just want to thank her. And it wasn't so easy. For you, it was easier. Want to come up? You want to come up? Mr. Wonderful, come on up here. You've been terrific. Come on up.

Nicki Minaj (54:56):

Hello. Well, I don't know what to say, but I will say that I am probably the president's number one fan and that's not going to change. And the hate or what people have to say, it does not affect me at all. It actually motivates me to support him more and it's going to motivate all of us to support him more. We're not going to let them get away with bullying him and the smear campaigns. It's not going to work. He has a lot of force behind him and God is protecting him. Amen.

Donald Trump (56:02):

[inaudible 00:56:03].

Nicki Minaj (56:03):

Should I go? Okay. All right.

Donald Trump (56:20):

Thank you. Thank you.

Nicki Minaj (56:20):

[inaudible 00:56:20].

Donald Trump (56:20):

And stay right here.

Nicki Minaj (56:20):

[inaudible 00:56:20].

Donald Trump (56:20):

[inaudible 00:56:20].

Kevin O'Leary (56:20):

On behalf of all the entrepreneurs in America, I'd like to thank you, Mr. President, because we create 72% of the jobs. Companies, 5 to 500 employees and all we care about is policy. We love policy, pro business policy and these accounts are fantastic for independence and support. I thank you very much. It's all about the entrepreneur and I think you know that, sir.

Donald Trump (56:47):

Thank you very much. Thank you. [inaudible 00:56:54]. Nicki, thank you very much.

Nicki Minaj (56:54):

All right. Thank you, Mr. Trump.

Donald Trump (56:57):

Well, that was great. A little interlude. I don't know. That's better than getting Scott Bessent up. Thank you both very much. Two terrific people. When Trump Accounts officially launch on July 4th of this year, every parent will be able to activate their accounts and access the funds at the trumpaccounts.gov. So it's all set up, all ready to go. It's beautiful. The site is beautiful. On that glorious day, we also expect to have commitments from generous private individuals in all 50 states and they'll be making additional contributions for children in their own states. And already legendary investor, Ray Dalio has pledged to adopt the entire state of Connecticut. That's pretty good, Michael. And thank you very much, Ray. Great legend. And today, one of the original advocates of this program has agreed to adopt his home state of Indiana. Brad Gerstner. And Brad's here someplace. Where's Brad?

(58:02)
Come on. I think Michael and Brad, would you come up here, please? Come up here. This isn't exactly Mr. Wonderful and Nicki, but I think they might be worth more money than Mr. Wonderful. These guys are worth a lot of money. But Brad is donating, listen to this, $250 to Trump accounts for all children under five in Indiana. So all the children under five, 250, and he'll be donating tens of millions of dollars more and matching contributions to millions of children all across the country. He's going to make a massive donation already. We know what it is. Brad is not only one of the most successful business people. He's the founder of the Invest America foundation and he's been working on this idea for years and he was the one. He went over to see Michael. Michael loved it and those two were a hell of a team along with Mrs. Dell, who's been so great. Susan.

(59:02)
I also delighted to report that dozens of major employers have signed up to add the Trump Account contributions to their employee benefit packages, including Uber, Schwab, Charter Communications and many, many others. And just today, it was announced that Intel, Nvidia, Broadcom, IBM, Steak 'n Shake, Coinbase, Continental Resources and Comcast have all signed up for really big contributions, so I want to thank them. I want to have you two guys come on up. Would you say a couple of words? Brad and Michael, would you say a couple of words? That's fantastic.

Speaker 6 (59:39):

Wonderful to see you.

Donald Trump (59:39):

Only Indiana. You can't do bigger. We love Indiana, but how about Indiana [inaudible 00:59:45]? No. We appreciate it. Big numbers. Thank you.

Speaker 6 (59:47):

Thank you. Well, four years ago, we set off on a journey to reconnect every child in America with the American dream. This president ran on a main street agenda

Speaker 7 (01:00:00):

That too many people had been left out and left behind. And his articulation of no tax on tips, that doesn't help rich folks. That helps those left out and left behind. No tax on social security. No tax on overtime.

(01:00:15)
And when Ted Cruz authored the Invest America Act in the Senate and Michael Dell partnered with me to bring the private sector to bear on this, we had the opportunity that this president was willing to sign. He immediately understood the impact, that this wasn't about the wealthy folks in America, this was about the 50 million American families who will be lifted up and reconnected to the American Dream because this is now the law of the land.

(01:00:46)
Forevermore, every child in America, from rural Missouri to rural Indiana, from Trenton to Compton, is going to start off life with an investment account at birth seeded with $1,000 where they privately own. NVIDIA and Microsoft, all the greatest companies in this country, right? Not dependent on government, independent from government. Not more socialism. The answer to more socialism is more capitalism.

(01:01:14)
This makes every child in America a capitalist from birth, and it would not have happened without the leadership of our treasury secretary, Scott Bessent, without the leadership of the speaker and Ted Cruz in the Senate.

(01:01:27)
But most importantly, and every business leader in America will tell you this, for too long, they had no access in Washington to the White House. People didn't want to hear their ideas. This president is voracious in his desire to hear from America's leaders about how to make America better. This is citizen democracy at its best. An idea that started around a kitchen table in Silicon Valley makes its way to this day. I'm humbled and honored to be here and I'm grateful for your leadership.

Donald Trump (01:02:01):

That's great. Thank you. [inaudible 01:02:04].

Speaker 8 (01:02:08):

Thank you, Mr. President. As you heard from Brad, the fact that this bill got passed itself was a miracle and it creates a platform for communities, for families, for corporations, for philanthropists to add to these accounts.

(01:02:28)
And in not too many years, essentially every child in America will have savings invested in the greatest companies in this country. And that will change the face of this country over the next 10, 20, 30 years, and we couldn't be more excited about this and the opportunity to make a difference.

(01:02:51)
The best investment a country can make is in its people, especially in its children, and this creates an incredible platform for that to occur at enormous scale and we're excited to see it all come together. Thank you all so much.

Donald Trump (01:03:08):

[inaudible 01:03:09]. Fantastic. Thank you, fellas. Those are two fantastic people, I can tell you that.

(01:03:24)
I want to give a very special thanks to some of the CEOs here this morning. Vlad Tenev of Robinhood, what a job he's done. Where's Vlad? What a job you've done. Young guy. Nice young guy too. Arjun Sethi of Kraken. Arjun, thank you very much, wherever you are. Thank you. Anthony Noto of SoFi Technologies. SoFi. Thank you very much, Anthony.

(01:03:56)
These are the ones you read about, and Bill Ackman is here, Pershing Square, and Hock Tan of Broadcom, and so many others that if I name them, we'll be up here all day, but I just want to say that what a job you've all done. Incredible job. Everybody. Just about everybody in this room. Not everybody. I'm not in love with everybody, but a couple of them I don't like very much, but if they're here I'm starting to like them a lot better because they're here for a very good reason.

(01:04:22)
I'm officially calling on all employers all across America to follow the lead of many of these amazing companies and make matching Trump Account contributions to benefit for the American worker, and they're going to benefit the American worker so much.

(01:04:40)
This morning I'm also pleased to announce that Visa is creating a brand-new platform which will allow credit cardholders to deposit their cashback rewards directly into Trump Accounts. That's a big deal. Visa, thank you. Where's Visa? Hello, Visa. Thank you very much, Visa. These initiatives could not come at a better moment because there's never been a better time to invest in the United States of America than right now. Who knew it would've happened this fast? I inherited a mess. We were a country that was laughed at a year and a half ago. We were laughed at. Now we're the hottest country anywhere in the world, nobody even close. So who knew this was going to take place as quickly?

(01:05:26)
Right, Michael? I didn't think it was going to go that fast. I knew we were going to do it, but I thought it would take a couple of years at least. Just a couple of days longer than the first year, so it's really amazing.

(01:05:37)
And just this morning as I'm running out, I see the S&P 500 hit 7,000 for the first time ever. Ever. So I say America is back. America is back.

(01:05:49)
Since the election, the stock market has set 52 all-time record highs, adding $9 trillion in value. And $18 trillion of investment is pouring into the country. It's going to be higher than that.

(01:06:02)
Just over one year ago we were a country that lost its way. We were mocked and scorned, and every American child will now be and have access to something that is really incredible, and they can watch directly the economic boom that's taking place. This is a boom that's taking place, the likes of which we've really never seen.

(01:06:25)
I don't think people get it yet. Not a lot of people, they don't get it. They don't see the thousands of businesses being built, the hundreds and hundreds of massive factories that are going up all over. But they're going to start to see it. They're starting to see it. I mean, if they're modestly intelligent. If they're very intelligent, they saw it about a year ago.

(01:06:47)
With us today is Craig Smith, a fourth-generation family farmer and volunteer firefighter from Culpeper, Virginia, along with his wonderful wife, Heather. Craig and Heather have an 18-month-old son and a one-month-old that they also welcomed just recently, twin boys, and they can't wait to activate Trump Accounts for all three of their children this July 4th.

(01:07:15)
Craig and Heather, do you want to come up here, Craig and Heather? Where are you, Craig and Heather? Come on up. Craig and Heather, come on up. Come on up. It meant so much to them. People write letters. Every once in a while you get a letter, it just hits you. Craig and Heather, come on up. Thank you.

(01:07:36)
That's great. Wow. Look at this family, huh? They're a rich family now. The kids are richer than the parents, this is the [inaudible 01:07:45]. It's the way we want it. Thank you very much. Wow. Wow. [inaudible 01:07:51]. Thank you. You'd like to say something, please. That's great.

Speaker 9 (01:07:58):

We just want to thank President Trump for all of his hard work and dedication to American families and farm families like ours. Farming is not always easy and sometimes margins are tight, so investments like this into our children really help us to buy diapers and formula and not have to worry about making financial decisions for them this early on. So thank you very much, President Trump.

Donald Trump (01:08:22):

Thank you very much. [inaudible 01:08:24]. Thank you very much.

Speaker 9 (01:08:23):

Thank you.

Donald Trump (01:08:23):

[inaudible 01:08:28].

Speaker 9 (01:08:23):

Thank you.

Donald Trump (01:08:32):

Beautiful kids. Thank you. Thank you very much. So nice. Also joining us today is the Gowens family from Fayetteville, Arkansas. Charlie works in manufacturing and he's here with his wife, Savannah, his high school sweetheart. In 2022, Charlie and Savannah opened their home to foster care, really expecting to take in one child, but soon they were taking in a family of three siblings and formally adopting them. A short time later, Charlie and Savannah also welcomed a biological daughter.

(01:09:06)
Trump Accounts will give each of these children a much better start in life. And Charlie and Savannah, where are you? Are you down there? Do you want to come up? Come on up here, Charlie, real fast. We're holding up a lot of big business people. We can't hold them up. Michael will take back his donation, say, "I want my money back." Come on up here. These are great families, but there's millions and millions of families that are going to be so amazed and so happy at what's taking place. Sort of a miracle, I think. Nice to see you. How are you? How are you? Oh, look at that.

Speaker 11 (01:09:59):

[inaudible 01:09:59].

Donald Trump (01:09:59):

So nice. Hi. How are you? [inaudible 01:09:59]. Do you want to say something?

Speaker 10 (01:09:59):

I would love to, yeah.

Donald Trump (01:09:59):

[inaudible 01:09:59].

Speaker 10 (01:09:59):

Thank you, President Trump, for having my family and me here today. My wife and I have spent the better part of our adult lives working to advance children in our community. And it was our faith that first led us to open our home to foster care, and it was God's plan that allowed us... Absolutely. And it was God's plan that allowed us to adopt three amazing children out of foster care to welcome so many more. And of course, this past year, welcome our youngest daughter, Florence, into the world.

(01:10:44)
It's through our experience that we've seen how opportunity or the lack thereof can really impact a child at the very beginning stages of their life before they even get a chance themselves. And that's why my wife and I, along with some of the work that the First Lady is doing, we are working to help foster and adoptive families and personally in our state with protections and support in our home state of Arkansas.

(01:11:17)
Every child deserves hope, stability, and a strong chance at a future, a strong future. And for young families, especially like ours, that your first priorities are, of course, your diapers and your wipes and your car seats and all that stuff. And so starting and investing into a investment account is not necessarily on the top of the priority list, and we're so thankful to have this.

(01:11:40)
And I think this sends a powerful message that this administration believes that financial opportunity can start early, that it is intentional, and that it can impact every single family. And my wife and I are so excited that this administration has placed families and children like ours at the forefront of economic policy. And we're so excited for the future of the children and for this country. Thank you.

Donald Trump (01:12:11):

Thank you very much. Wow. Good job. [inaudible 01:12:15]. That's a great job. I was wondering how much longer he could hold... Did you notice it? It's getting heavy. It's still 50 pounds or something. I said, "How much longer is that?" And finally, it broke loose.

(01:12:36)
But you could see a loving father there, couldn't you? The way he did that, right? Wasn't that a loving father? I watched that. He was grabbing. That's a great family. Thank you very much both. Beautiful.

(01:12:48)
So in conclusion, the ultimate success of the Trump Accounts will be measured not just in the wealth created. It will be seen in young people buying houses that they could never have even dreamed of buying. It'll be seen in diplomas earned, companies founded, families formed, and more babies born. It'll really be seen in something where you're given a chance, you're given a chance at life, a very good chance.

(01:13:13)
Above all, Trump Accounts will help bring the hope and prosperity to every community that every community wants to see, and it'll bring back the American Dream.

(01:13:23)
The American Dream is so beautiful. I would mention it all the time when I'm running. Whenever I run, I talk about the American Dream because that's what we want to create. Others don't talk about it, but we have the American Dream back I think now maybe better than ever before.

(01:13:39)
For generations, Washington politicians have done nothing to take from the hardworking people of our country. They take and take. They do nothing but take. They've made workers' lives harder, set prices higher, pushed your dreams out of reach.

(01:13:56)
And both parties, I mean, they didn't do the job that they were supposed to do. Some were fighting, and sometimes we fight against some of the great politicians we have here, they fight with me, most of them, and we fight to make things better. But we run into walls of other politicians that either don't want to do something or they almost feel like it's a destruction of our country.

(01:14:21)
But now we're doing something much better than giving the next generation a handout. We're giving them ownership of America's future so that they can grow up, chart their own destiny and make our nation greater and stronger and better than ever before.

(01:14:36)
So I just want to thank all of the people that participated today, the great business leaders, the great celebrities and all of the people that are in this room. You've done so much. And I just want to also give a little bit of a shout-out to a lot of great politicians that are right now voting on some very important measures.

(01:14:55)
Plus the politicians in this room, they have really worked hard on this. This is something that it's amazing that it got done. If you knew the political process, it was very complex, very hard to get done to get all of those votes together, but we did it, and it's going to be great for America.

(01:15:14)
And Brad and Michael, thank you both very much. Special, special people. Thank you very much. And God bless everybody in the room, and God bless America. Thank you very much for being here. Thank you. Thank you. Thank you. Thank you, everyone. Thank you.

MUSIC (01:15:36):

Young man, there's no need to feel down.

(01:15:36)
I said young man, pick yourself off the ground.

(01:15:36)
I said young man, 'cause you're in a new town.

(01:16:13)
There's no need to be unhappy.

(01:16:13)
Young man, there's a place you can go.

(01:16:13)
I said young man, when you're short on your dough.

(01:16:14)
You can stay there and I'm sure you will find.

(01:16:14)
Many ways to have a good time.

(01:16:14)
It's fun to stay at the Y.M.C.A.

(01:16:14)
They have everything for young men to enjoy.

(01:16:14)
You can hang out with all the boys.