Frank Bisignano, commissioner of the Social Security Administration and CEO of the IRS, has become the first senior administration official to pledge a donation to Trump Accounts.
Bisignano announced on Thursday that he is donating $250 from his family fund to every child between 2 and 8 years old living in his hometown ZIP code in Brooklyn, New York. 11234 is in the top 1% of U.S. ZIP codes ranked by population.
“Brooklyn is home for me. My life was shaped by the people, schools, and neighborhoods in Marine Park, Mill Basin, Bergen Beach, and Flatlands,” Bisignano said in a statement released by the IRS. “This donation is an investment in the children of Brooklyn, giving them a boost in their personal wealth building journeys.”
The donation is the latest investment in the Trump Accounts retirement program, which has been established for nearly 70 million American children under 18 with a valid Social Security number. The White House launched the program on July 4, marking the nation’s 250th anniversary.
For children born between Jan. 1, 2025, and Dec. 31, 2028, the government deposits $1,000 into each Trump Account before parents or others can start contributing up to $5,000 a year until the child comes of age. After the beneficiary turns 18, the funds in the account can be used.
Bisignano credited President Donald Trump for creating an initiative that allows families to invest in their children’s future.
“Trump Accounts are transformational savings vehicles that will provide the next generation and future generations a strong financial foundation,” he said. “President Donald J. Trump has created life-changing opportunities for America’s children through Trump Accounts, enabling them to benefit from capitalism and the incredible U.S. economy. I hope this gift encourages others to support children in their communities and across our great country.”
In addition to leading the SSA and IRS, Bisignano serves as the executive-in-charge of Trump Accounts.
TRUMP THANKS ‘LEGENDARY FRIEND’ MUSK FOR PLEDGING SPACEX STOCK TO TRUMP ACCOUNTS
Private citizens have typically pledged donations to Trump Accounts, but this is the first known instance of a federal government official doing so.
SpaceX CEO Elon Musk and SpaceX President Gwynne Shotwell each vowed to give their personal stocks in the aerospace company to children who have Trump Accounts in their name. Michael and Susan Dell, known for the Dell computer company, made their own contributions to Trump Accounts, totaling $6.25 billion for up to 25 million American children.
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[ H/T Washington Examiner ]
