The chief of the Internal Revenue Service, Frank Bisignano, said Thursday that Trump Accounts could eventually become available to every family in the United States. Bisignano, who has been tapped to oversee the program’s expansion, said the broader aim is to give all 70 million children under 18 a Trump Account.
Speaking on CNBC’s Squawk Box, Bisignano said the enrollment process should be straightforward and described the effort as largely a technology challenge. He said he has already met with executives from tax-preparation companies to discuss whether they could help distribute the accounts, and he also pointed to banks as another possible channel.
According to a July 10 Treasury Department tally, families had already opened accounts for 6.5 million children. Bisignano said financial incentives could help push participation higher, including the $1,000 federal seed deposit for babies born between 2025 and 2028, employer matching contributions and grants from philanthropists such as Michael and Susan Dell.
The comments come as other supporters of the program have floated the idea of automatic enrollment. Earlier this month, Altimeter Capital CEO Brad Gerstner said he hoped the Social Security Administration could help create 70 million accounts for children under 18 in the coming months.
Source: cnbc.com
