More than 50 companies have committed to putting money into Trump Accounts for the children of their workers. The companies are joining the US government’s new child investment program through contributions, matching funds or other support.
American Airlines Group Inc. will give a one-time $1,000 contribution to eligible employees’ children who have Trump Accounts. The company’s contribution will match the federal government’s $1,000 seed contribution, according to CNBC. Thousands of children of American Airlines employees could qualify for the company’s $1,000 contribution. The airline has nearly 140,000 employees worldwide, and the new benefit will be available to eligible workers’ children. The company-backed program is now moving forward with $250 grants for eligible children, marking a new stage for one of the biggest private commitments to the program. The Dell-backed $250 payments started moving into accounts on Monday, August 31. He previously said the program could attract more than $100 billion in additional private commitments over the following 12 months. The growing company commitments could give children more money than the federal government’s initial $1,000 contribution.
The Dell Foundation said the money would be automatically deposited into eligible children’s Trump Accounts, according to CNBC. American Airlines is the latest major company to announce a contribution. Dell is also putting money directly into children’s Trump Accounts. Brad Gerstner, founder and CEO of Altimeter Capital, has predicted that private money could become a major part of Trump Accounts. Employers and other private contributors can add money on top of the government seed payment, making corporate participation an important part of the program’s growth.
