⚡️TRUMP delivers an EMERGENCY ADDRESS. Live from the WHITE HOUSE

[00:00:00] Hello everybody. [00:00:04] >> Nice to see you again. It's been a That [00:00:06] was a long news conference we had [00:00:07] before, wasn't it? [00:00:09] >> But it was a good one. [00:00:12] [clears throat] [00:00:17] >> Okay. [00:00:21] Well, thank you very much. And we're [00:00:22] thrilled to be joined by one of the most [00:00:24] successful [00:00:26] business leaders and people anywhere in [00:00:29] the country. Whether it's technology, [00:00:32] uh, no matter what business you're [00:00:33] talking about, there's doing nobody [00:00:34] quite like him. He's chairman and CEO of [00:00:38] Dell Technologies, [00:00:40] uh, make great everything, great [00:00:42] computers, great everything. Michael [00:00:44] Dell, the very much of a legend, who's [00:00:46] here with his really exciting [00:00:49] announcement. It's so amazing. And much [00:00:52] much more importantly, he's here with [00:00:54] his wonderful wife, Susan. And they have [00:00:57] a special relationship. I think I can [00:01:00] say that really. It's very nice. I don't [00:01:02] see too much of it. I see the opposite, [00:01:05] but I don't see too much. They have a [00:01:06] special two special people. And I I've [00:01:09] seen that. I've known that for a long [00:01:11] time. And I think it's a tremendous [00:01:13] thing. also the CEO of [00:01:16] Altimer Capital, Brad Gest Gersonner. [00:01:20] Where are you, Brad? Brad Brad Gersonner [00:01:23] is a terrific fellow who's uh very much [00:01:26] involved in this incredible thing that [00:01:29] we're doing today along with the speaker [00:01:31] of the house Mike Johnson treasury [00:01:33] secretary Scott Besson chairman of the [00:01:36] senate committee on commerce and science [00:01:38] and transportation Ted Cruz house ways [00:01:41] and means committee chairman Jason Smith [00:01:44] vice chairman of the house Republican [00:01:46] conference Blake Moore as well as the [00:01:49] chief design officer of the United [00:01:51] states air BNB co-founder Joe Gibbia. I [00:01:56] want to thank you all for being here. [00:01:58] It's a great group and I guess a [00:02:02] potential Fed chair is here too. I don't [00:02:04] know who's allowed to say that [00:02:06] potential. [00:02:08] He's a respected person that I can tell [00:02:10] you. Thank you, Kevin. [00:02:13] Today is Giving Tuesday. I don't know if [00:02:16] anybody's heard that one before, but it [00:02:19] is indeed Giving Tuesday, one of the [00:02:22] biggest days of the year for [00:02:23] philanthropy and charitable giving. And [00:02:26] this afternoon, Michael and Susan Dell [00:02:29] are committing to one of the largest [00:02:30] private donations in American history, [00:02:33] which will directly benefit the next [00:02:35] generation of American children through [00:02:37] the new Trump Accounts program that we [00:02:40] created in our one big beautiful bill. [00:02:44] Michael and Susan came to see me along [00:02:46] with Brad and they said uh you know this [00:02:49] is an idea and I said I I think you know [00:02:52] it sound it's just so good and so unique [00:02:56] but that's why he's been so successful [00:02:58] and they've been so successful in life [00:03:00] and in business because they're unique. [00:03:03] Trump Accounts will be the [00:03:06] first, I guess you could say, real trust [00:03:08] funds for every American child, allowing [00:03:10] family members, employers, corporations, [00:03:13] generous donors to contribute money that [00:03:16] will be invested and grow over the [00:03:18] course of a child's life to be used for [00:03:21] their benefit after they turn 18. So, in [00:03:24] other words, these are children that are [00:03:26] going to an investment's going to be [00:03:28] made. That investment is going to [00:03:30] continue to grow. We hope, right? We [00:03:32] hope and uh but it will and they'll be [00:03:37] they'll feel like they'll feel like [00:03:39] Michael Dell someday. But at 18, they'll [00:03:42] have a lot of money, a lot more money [00:03:44] than they would have had and potentially [00:03:45] a lot of money. But these accounts will [00:03:48] track the overall stock market and will [00:03:50] be 100% private property controlled by [00:03:52] the child's guardians. [00:03:54] In honor of America's 250th anniversary, [00:03:58] the Dells are announcing today that they [00:04:00] are giving 25 million American children [00:04:04] $250 each to save and to invest in their [00:04:08] personal Trump account. Now, that's the [00:04:11] equivalent of 6.25 [00:04:14] billion. In other words, to put it [00:04:17] succinctly, [00:04:18] Michael and Susan are giving [00:04:21] six billion 250 [00:04:24] million dollars in total. [00:04:28] And as a total contribution, that's big [00:04:30] stuff. I don't care who you are. That's [00:04:33] big. Come here. Give me a hand. [00:04:36] Let me have a little of that luck rug [00:04:38] off. [laughter] [00:04:40] That's fantastic, Susan. These gifts [00:04:43] will be available to the first 25 [00:04:45] million children aged 10 and under the [00:04:48] sign of zip codes where their median [00:04:51] income is $150,000 [00:04:53] or less. So they're giving them to [00:04:56] children that won't be born particularly [00:05:00] rich and they're going to be hopefully [00:05:02] very rich someday. This will give [00:05:04] millions of dollars, millions of ch [00:05:07] children, middle class families a stake [00:05:10] in American prosperity, a benefit from [00:05:12] the rising stock market, and a better [00:05:14] shot at the American dream. It really [00:05:16] gives them a shot at the American dream. [00:05:19] Michael and Susan, I want to thank you [00:05:21] for this extraordinary act of kindness [00:05:22] and patriotism and charity. This is [00:05:25] truly one of the most generous acts in [00:05:28] the history of our country. I mean, you [00:05:29] just don't you don't hear about things [00:05:32] like that. And we got to let people [00:05:33] know. He doesn't want and she doesn't [00:05:36] care about that. But I do. I think when [00:05:38] somebody does that, you got to let him [00:05:41] know about it. As I mentioned, this gift [00:05:44] is being made possible by the largest [00:05:46] tax cuts in American history, which are [00:05:48] Republican majorities passed earlier [00:05:50] this year. And the speaker worked so [00:05:52] hard and John Thun and Jason and all of [00:05:55] them, every one of them. Ted Ted Cruz is [00:05:57] with us. He worked so hard getting that [00:06:00] done. That was the biggest, most [00:06:01] consequential bill they say ever passed. [00:06:04] And you know, if they remember, Michael, [00:06:06] we were they thought we had to put that [00:06:08] in 12 to 14 bills. I said, I don't know [00:06:11] if we can hold it that long with the [00:06:14] Democrats and we said, let's try doing [00:06:15] it once. So, we did and uh people were [00:06:19] surprised, but we got it done. So, I [00:06:21] congratulate you guys. Amazing job. [00:06:23] Under that bill, the federal government [00:06:25] will also automatically be making a [00:06:27] one-time seed contribution of $1,000 [00:06:30] into the tax deferred Trump accounts for [00:06:33] every newborn US citizen, fulfilling a [00:06:37] promise I made in the 2024 campaign. [00:06:40] Trump accounts should grow to be worth [00:06:42] many thousands of dollars by the time [00:06:44] the child is 18 and even more by the [00:06:46] time they are 20 or even 30 years old. [00:06:49] We think it's going to be something [00:06:51] really unique and really special. We [00:06:53] hope many others will follow Michael and [00:06:56] Susan's example and make their own [00:06:58] contributions. I'll be doing it too, to [00:07:01] the next generation, including [00:07:02] businesses, churches, philanthropists, [00:07:05] family members, and parents themselves. [00:07:07] I think we're going to have a lot of [00:07:08] people, Susan, I think a lot of people [00:07:10] are going to be uh contribute. A lot of [00:07:13] people are watching us right now. They [00:07:15] might not be six six billion dollars [00:07:17] plus, but there'll be a lot. There [00:07:20] aren't too many people that are in the [00:07:21] six billion range, but there'll be a [00:07:23] lot. A lot of friends of mine have [00:07:25] already told me they're going to [00:07:26] contribute a lot of money, and a lot of [00:07:27] them are going to leave a lot of money [00:07:29] in their wills. So, that's very [00:07:31] important. And as you watch us today, I [00:07:34] hope you'll be doing that. Contributions [00:07:35] to Trump accounts will also be a great [00:07:38] benefit for employers to offer their [00:07:40] workers, which they'll be able to do [00:07:42] taxfree. It's taxfree. We expect [00:07:45] hundreds of major companies to announce [00:07:47] plans to contribute to these accounts in [00:07:49] the coming months and we've had [00:07:51] tremendous interest in that regard. So [00:07:54] the Trump accounts will be available [00:07:56] starting on July 4th next year. And [00:07:59] Michael and Susan to you again. It's an [00:08:02] amazing act of just incredible [00:08:05] everything. I mean the the life you've [00:08:07] led to be able to do this even to be [00:08:09] able to even a lot of people have a good [00:08:11] heart but they can't give 6 billion250 [00:08:15] million [00:08:17] and Michael probably knowing you it's [00:08:19] not the last of it either it's not the [00:08:21] last but uh on behalf of the United [00:08:23] States of America I want to thank you [00:08:25] both and I want to thank all three but I [00:08:28] want to thank you both because you've [00:08:29] been friends of mine and it's a [00:08:31] spectacular couple this is really an [00:08:33] amazing an amazing [00:08:35] people. These are uh unique. And I'd [00:08:39] like to have you come up and say a [00:08:41] couple of words and tell us what you [00:08:43] have in mind because what you have in [00:08:45] mind is good. [00:08:46] >> Thank you very much. Thank you. [00:08:48] >> Thank you, sir. [applause] [00:08:54] >> Thank you, Mr. President. It's a great [00:08:56] honor to be with you here in the White [00:08:58] House. And you know, when you pass the [00:09:02] Invest America Act [00:09:04] >> Yeah. on July 4th of this year. We were [00:09:07] really inspired uh to see that happen [00:09:10] and this is something that uh you know [00:09:12] Brad had first mentioned to us in 2021. [00:09:15] We thought it was a great idea then and [00:09:18] uh it's amazing that it happened and we [00:09:21] also saw that this uh act would become a [00:09:26] platform [00:09:28] and you know we believe the smartest [00:09:29] investment that we can make is an [00:09:31] investment in children and this uh act [00:09:36] has created a platform for families and [00:09:41] friends and communities and companies [00:09:44] and philan philanthropist to contribute [00:09:46] to these accounts to create a uh savings [00:09:50] and uh opportunity and hope and [00:09:54] prosperity for [00:09:56] tens of millions of children in this [00:09:58] country. [snorts] And Susan and I are [00:10:01] super excited to announce our $6.25 [00:10:05] billion gift to 25 million American [00:10:09] children uh 10 and under. And our gift [00:10:12] will cover most of the children that are [00:10:15] 10 and under that are not part of the [00:10:17] federal program uh the the zero to two [00:10:20] year olds and who also live in zip codes [00:10:23] where the median income is $150,000 or [00:10:27] less and uh I have spoken with a number [00:10:31] of other uh wealthy Americans [00:10:34] philanthropists and we are confident [00:10:36] that others will join us because uh we [00:10:40] all understand the incredible impact [00:10:43] that a gift like this can have on the [00:10:46] lives of young Americans. So again, it's [00:10:49] a great honor for us to be here to be [00:10:50] able to announce this. You know, when I [00:10:53] was uh eight years old, I got a passbook [00:10:55] savings account and I had uh I think [00:10:58] about $8 in it. And you go to the [00:11:01] savings and loan and you'd give them a [00:11:03] quarter and they'd stamp your account. [00:11:04] And I got to see the power of compound [00:11:07] interest early in my life and [snorts] [00:11:10] that has brought me here to this moment [00:11:13] and hopefully uh will inspire uh that [00:11:17] kind of opportunity for uh many more [00:11:21] young people in this country. So again, [00:11:23] thank you for the uh privilege of being [00:11:26] here. [00:11:26] >> Thank you. Thank you Susan. So [00:11:28] beautiful. Thank you very much. Susan, [00:11:30] would you like to say something? [00:11:32] I just like to say how excited we are to [00:11:35] be a part of this. Uh we believe that [00:11:38] when children have a future that they [00:11:41] can see is worth saving for, then that [00:11:46] will help build hope and opportunity and [00:11:50] prosperity for generations to come. So [00:11:52] we're so excited to be uh doing this and [00:11:56] hope to have many people join in our [00:11:58] efforts. Thank you so much. [00:12:00] >> Thank you, Susan. So beautiful. [00:12:02] [applause] [00:12:08] >> Well, first it's an incredible honor to [00:12:10] be here and we wouldn't be here without [00:12:12] the passage of the Invest America Act [00:12:14] and everybody on up here today played a [00:12:17] role in getting that done. the speaker, [00:12:20] Ted Cruz, in drafting the legislation so [00:12:24] that when the president placed the call [00:12:26] to the speaker and said, "Let's make [00:12:27] this happen in the big beautiful bill." [00:12:29] Congress was ready to act. They had the [00:12:32] legislation drafted. But I couldn't be [00:12:34] more grateful for the friendship and the [00:12:36] partnership of the Dells that really [00:12:38] show the best of America. Today is [00:12:40] Giving Tuesday, right? And the fact of [00:12:42] the matter is for decades we've talked [00:12:45] about the wealth gap. We've talked about [00:12:47] too many people left out and left [00:12:49] behind. This president was elected on a [00:12:51] main street agenda to get the rest of [00:12:54] America into the game. And that's [00:12:56] exactly what this does. It gets every [00:12:58] American child, 3.7 million children [00:13:01] born every year will now start life off [00:13:04] with an investment account seated with [00:13:06] $1,000. And then you're going to have [00:13:08] great philanthropists, great Americans [00:13:10] like Michael and Susan who are going to [00:13:12] add money to those accounts. We're going [00:13:14] to be we're overwhelmed with the number [00:13:16] of companies that want to contribute to [00:13:18] these accounts. Already companies from [00:13:20] Uber to Nvidia, T-Mobile to Charter [00:13:22] Communications, Dell, etc. The list goes [00:13:25] on and every day more companies are [00:13:27] calling us raising their hands and [00:13:29] saying we want to be part of this. It's [00:13:30] like a 401k from birth. It's a benefit [00:13:33] for the kids of our employees, right? [00:13:35] Major philanthropists. But I think what [00:13:37] this is going to unlock is the power of [00:13:39] families, moms and dads, Venmoing and [00:13:42] Apple paying and five bucks, 10 bucks, [00:13:45] right? And getting these kids into the [00:13:47] game. When we had the round table at the [00:13:49] White House earlier this year, Darra [00:13:51] Kashra Shahi, the CEO of Uber said, you [00:13:54] know, after fleeing Iran at the age of [00:13:55] nine with nothing, he came to America [00:13:58] because it was the land of hope. And he [00:14:00] said, "What the Invest America Act does [00:14:02] is it bottles up hope for every child in [00:14:05] America. Whether you're in rural [00:14:06] Mississippi or rural Indiana, where I [00:14:08] came from, inner city Trenton or [00:14:10] Compton, you're now in the game." Right? [00:14:14] That act alone, I think, reinvigorates [00:14:17] the American dream. It reinvigorates the [00:14:20] idea of free market capitalism. Too many [00:14:25] people are losing faith in you, sir. By [00:14:28] passing the Invest America Act and [00:14:29] getting all these kids into the game. [00:14:31] This is a transformational act in this [00:14:34] country forever more. Every child starts [00:14:37] off life in the game with a piece of the [00:14:40] American dream compounding in the upside [00:14:42] of America. So, thank you for having us [00:14:43] here. [00:14:46] [applause] [00:14:48] >> I think the secretary first. [00:14:51] >> I defer to the brains. [00:14:54] Uh good afternoon everyone and I think [00:14:57] this is a major change in philanthropy [00:15:01] and for American f working families. It [00:15:05] is the merging of President Trump's [00:15:08] agenda of parallel prosperity, Main [00:15:12] Street meets Wall Street. For the next 5 [00:15:15] years, the every child born in the US [00:15:18] will get a $1,000 Trump account that [00:15:21] will be with them and compound the for [00:15:24] the next 18 years. Treasury Department [00:15:27] with other branches of government is [00:15:29] going to do financial literacy and we [00:15:31] are going to make sure that all American [00:15:34] families have a stake in the success of [00:15:37] the United States of America. So every [00:15:40] day when the stock market goes up or [00:15:42] down and we believe over the 18 years it [00:15:45] will go up and families will learn the [00:15:48] power of compounding that it will be a [00:15:51] gamecher. people who have a stake in the [00:15:54] system and become more and more vested [00:15:56] in the system. They do not want to bring [00:15:59] down the system. They want to make it [00:16:02] better. So I think we will look back on [00:16:05] today and know that these Trump accounts [00:16:09] they have started a new age of the [00:16:13] capitalism and market interest for the [00:16:16] whole country. Uh, I I I also think that [00:16:19] it is a gamecher as we're seeing with [00:16:22] Michael and Susan Bell today that [00:16:26] Americans are the most generous people [00:16:29] in the history of the world and the [00:16:31] Trump accounts will provide a vehicle [00:16:34] for philanthropists such as Michael and [00:16:36] Susan and many more to contribute. And [00:16:40] at Treasury, we are working. So, Michael [00:16:42] and Susan want to do it for children or [00:16:45] in the past 10 years, a certain income [00:16:48] level. [00:16:50] As Brad said, it can be tailored. It can [00:16:53] be to employees. It could be a [00:16:56] philanthropist could adopt a adopt a [00:16:58] state. They can adopt a school. They [00:17:00] could adopt a zip code. Uh they can [00:17:02] adopt a street. And you so we will [00:17:05] constantly see these accounts topped up. [00:17:09] Uh for those of you on the Treasury, [00:17:12] we'll be running this on the operational [00:17:14] side. For those of you who would like [00:17:16] to, you can go to trumpaccounts.gov [00:17:20] today and see the homepage uh that has a [00:17:26] basic outline. These will become [00:17:27] operational on July 5th of this year and [00:17:32] uh we will have families start signing [00:17:34] up for them. So um [00:17:38] and that [00:17:41] homepage will answer all the questions [00:17:43] on eligibility and investment. And then [00:17:46] finally today we're here on Giving [00:17:49] Tuesday. Uh Michael and Susan have led [00:17:51] the way. But I think that there's a [00:17:54] chance that every Tuesday can become [00:17:56] Giving Tuesday as more and more [00:17:58] philanthropists the see the power of [00:18:01] this of giving to American families, [00:18:03] giving to American children, and giving [00:18:05] everyone a stake in our great economy. [00:18:07] So, thank you very much. [00:18:10] [applause] [00:18:14] Uh, I'll be brief. There's a lot of [00:18:15] symbolism here today. um right here on [00:18:17] the eve of the 250th anniversary of the [00:18:20] greatest nation in the history of the [00:18:21] world. We are the greatest nation by any [00:18:23] objective measure. We're the most free, [00:18:25] most powerful, most successful and most [00:18:27] benevolent nation that's ever been. And [00:18:29] I think what you're seeing here is uh is [00:18:31] another exhibit of that. This idea, this [00:18:34] vision came about because Brad and a [00:18:36] couple of smart guys came up with this [00:18:37] idea and then took a few years to sell [00:18:39] the idea to everybody. And then these [00:18:41] visionary legislators over here, Senator [00:18:43] Ted Cruz and Blake Moore in the House [00:18:45] and Jason Smith, the Ways and Meatshare, [00:18:47] really caught the vision and we put it [00:18:48] into the the big beautiful bill, the [00:18:50] working families tax cut. We've been [00:18:52] saying all along that was drafted to [00:18:54] really help lower and middle class [00:18:56] earners in America. And [snorts] this is [00:18:58] one of the great features, one of one of [00:19:00] the perils of having the big beautiful [00:19:01] bill and having it all in there [00:19:02] together, the president and I have [00:19:03] talked about many times, is that there's [00:19:05] so many great things in that [00:19:06] legislation. We don't have enough time [00:19:08] to talk about all of it. So, we need a [00:19:10] moment to really focus on this. Giving [00:19:12] Tuesday is an appropriate a perfect time [00:19:14] to do it. And it's absolutely uh [00:19:17] perfect. I think that July 5th becomes [00:19:20] the operational date right after the [00:19:22] nation's birthday. So, what we're going [00:19:24] to see here is a model that I don't [00:19:25] think anyone has done anywhere in the [00:19:27] world. They wouldn't have the capability [00:19:29] to do it. They wouldn't have [00:19:30] philanthropists and great Americans with [00:19:32] big hearts like this who've who've [00:19:34] earned their way and and really [00:19:36] fulfilled the American dream. and they [00:19:37] have a vision and a desire for more and [00:19:39] more people to do that and so now more [00:19:42] and more Americans will it kind of evens [00:19:44] the playing field in a way right and [00:19:46] everybody has an opportunity so we're [00:19:48] just excited to be a part of it grateful [00:19:50] to the vision grateful to a president [00:19:52] who leads from the front who understands [00:19:55] the uh potential of something like this [00:19:57] and this will be one of the of the many [00:19:58] marquee achievements in the Trump [00:20:00] administration this will be one that [00:20:01] people remember for a long long time and [00:20:03] I think it can change the country so [00:20:05] thanks Mr. President, thanks Brad. All [00:20:06] of you for being a part. Thank you to [00:20:07] the Dells. Really amazing. Thank you. [00:20:09] Sure. [00:20:09] >> Thank you, [00:20:10] >> Ted. Please. [00:20:13] [applause] [00:20:14] >> Well, I want to congratulate all the men [00:20:16] and women up here. And Mr. President, I [00:20:18] think objectively on the merits. The [00:20:21] case can be made that there has never [00:20:23] had been a president who's had a greater [00:20:25] positive impact on the children of [00:20:26] America than you have. And in particular [00:20:29] in this one big beautiful bill, I think [00:20:32] the two most longlasting [00:20:35] and far-reaching provisions are number [00:20:37] one, the school choice provision that [00:20:39] you signed into law that is going to [00:20:40] unleash tens of billions of dollars to [00:20:43] scholarships to low-income kids all over [00:20:45] the country and is going to change the [00:20:47] lives of millions of kids. And the [00:20:49] second provision is this provision right [00:20:50] here, the Trump accounts. these Trump [00:20:53] accounts. [00:20:54] Starting on July 4th, every child in [00:20:57] America will have a personal investment [00:20:59] account opened for them. Newborn [00:21:00] children will have it seated with [00:21:02] $1,000. Parents and family and employers [00:21:06] can contribute up to 5,000 a year in a [00:21:08] tax advantaged account. That money will [00:21:11] be invested in the S&P 500 in the stock [00:21:13] market broadbased equity index account. [00:21:17] Two massive benefits that change this [00:21:19] country. Number one, every child in [00:21:21] America will experience the benefits of [00:21:24] compound growth. Take a little girl born [00:21:27] next year. She's born next year. She has [00:21:30] the account opened for her. $1,000 is [00:21:32] automatically seated. Her parents, her [00:21:34] family, or an employer puts 5,000 a year [00:21:37] each year into that account. If you [00:21:39] assume the historic rate of growth of [00:21:41] the S&P 500, which is 7% a year, by the [00:21:45] time that little girl is 18, she will [00:21:47] have $170,000 [00:21:50] in that account. And if she keeps [00:21:53] saving, by the time that little girl is [00:21:55] 35, she will have $700,000 [00:22:00] in that account. That is gamechanging. [00:22:03] And we're not talking the children of [00:22:05] Michael and Susan Dell, the children of [00:22:06] Donald Trump, the children of of people [00:22:08] of great success. We're talking the kids [00:22:10] of a single mom waiting tables who could [00:22:13] have $700,000 saved by the time she's 35 [00:22:16] to get an education, to start a [00:22:18] business, to buy a house. That changes [00:22:21] their whole lives. But the second [00:22:22] benefit, and what I'm really excited [00:22:24] about, is we are creating a new [00:22:27] generation of capitalists. [00:22:30] Every child in America is going to be an [00:22:32] owner of the biggest employers in this [00:22:35] country. We've all seen the sad [00:22:37] statistics of how many kids are losing [00:22:39] faith in capitalism. Well, 10 years from [00:22:42] now, a little boy is going to pull out [00:22:43] his phone and he's going to look at his [00:22:45] app and he's going to see his Trump [00:22:47] account and instead of thinking of big [00:22:50] bad scary corporations, that little boy [00:22:52] is going to say, "I own 50 bucks of [00:22:55] Apple. I own 100 bucks of Dell. I own 75 [00:22:58] bucks of McDonald's and every child is [00:23:01] an owner of the biggest employers in [00:23:03] this country. That will transform this [00:23:06] country. Mr. President, thank you for [00:23:08] signing it. Let me say, Brad, this would [00:23:11] not be a law if Brad Gersonner did not [00:23:14] pursue it with absolute dogged [00:23:16] determination, relentless. I've gotten [00:23:19] calls and texts from Brad at 6:00 a.m. [00:23:22] and at 2:00 a.m. You may sleep less than [00:23:24] the president, Brad. And and that that [00:23:26] is a remarkable thing cuz I don't think [00:23:27] he sleeps at all. Uh and and finally, [00:23:30] I'll just say to to Michael and Susan, [00:23:33] incredible Texans, 6 and a4 billion [00:23:36] dollars is extraordinarily generous. Let [00:23:39] me say on behalf [00:23:43] [music] [00:23:47] future that changes their lives and I [00:23:50] hope and believe Michael and Susan are [00:23:51] going to inspire millions across the [00:23:54] country to do the same thing. [00:23:56] When Congress passed section 401k of the [00:23:59] Orisa, I don't know that anyone realized [00:24:02] how much it would change retirement [00:24:03] plans. There's now trillions of dollars [00:24:06] in 401k plans. They're going to be [00:24:09] trillions of dollars in these. These are [00:24:10] 401ks for kids. And Mr. President, these [00:24:13] Trump accounts exist because you signed [00:24:15] them. Thank you for your leadership. [00:24:17] It's an honor to work with you. [00:24:18] >> Thank you very much. [applause] [00:24:22] If you just say a couple of words and [00:24:24] come on up for a second. [00:24:26] >> Perfect. Thank you. First, I would just [00:24:28] want to thank Michael and Susan um for [00:24:30] the kind gift. what what you all have [00:24:33] done will be transformational for 25 [00:24:36] million million kids. And a lot of [00:24:39] people we can thank for the provisions [00:24:42] in this big beautiful bill, but there is [00:24:45] no one to thank greater than President [00:24:47] Donald Trump. And I'll tell you this, [00:24:50] out of every executive I've ever worked [00:24:52] with, there's no one that's been more [00:24:54] engaging, no one that has been more [00:24:56] involved. And the only reason why these [00:25:00] investment accounts are in the big [00:25:03] beautiful bill is because he helped [00:25:06] convince other members of Congress that [00:25:08] this is a good idea. This has been [00:25:10] something that has been discussed for a [00:25:12] long time, but no one could ever get it [00:25:15] passed. But who helped get it passed was [00:25:17] Donald Trump. I can tell you that from [00:25:20] day one throughout the process. And so [00:25:22] that's going to affect millions millions [00:25:25] of kids in their in their futures. [00:25:31] >> Thank [clears throat] you. I uh was not [00:25:32] planning or prepared to speak today, but [00:25:34] the gravity of the situation is not lost [00:25:36] on me. Uh I have four boys of my own, 13 [00:25:39] and under. And uh on the heels of a $6 [00:25:43] billion announcement, I hope that that [00:25:45] doesn't, you know, go without some major [00:25:47] headlines, that I will be making an [00:25:49] announcement of my own, that I will be [00:25:50] contributing $60 to each one of my [00:25:52] children's accounts today. [00:25:55] actually to to to make to to to try to [00:25:59] bring some levity to that. Every parent, [00:26:02] every grandpa and grandma can now look [00:26:06] and say, I can get my grandkid this [00:26:09] little toy or something. And maybe [00:26:10] that's going to continue to happen, but [00:26:12] there is a new option and another way [00:26:13] for them to be able to invest and have a [00:26:15] lasting legacy. and and as a dad of four [00:26:18] kids, um seeing kids in our [00:26:20] neighborhood, uh them to have that [00:26:22] opportunity is something that um not [00:26:24] every day in Congress, as I've joked [00:26:26] with my colleagues, is the most [00:26:27] productive day in my career. Uh but to [00:26:30] be able to be a part of something like [00:26:31] this is um it makes everything [00:26:34] worthwhile. I'm away from my kids a ton [00:26:36] in this job. And uh being able to be a [00:26:39] part of something like this, a small [00:26:40] part that I played, uh is is is [00:26:42] something that is transformational. and [00:26:44] I'll be able to look back on this and um [00:26:47] and and be so grateful for this [00:26:49] opportunity that I've had to be able to [00:26:50] serve in Congress. Thank you so much. I [00:26:52] appreciate the chance to be here. [00:26:53] >> Thank you very much. [00:26:54] >> Thank you. [00:26:55] >> Would anybody have a question? Michael, [00:26:57] Susan, [00:26:58] >> yes. [00:26:58] >> Brad, [00:26:59] >> please. [00:27:00] >> Yeah. For two one for you two. Uh if you [00:27:02] could Did either of you say you're [00:27:05] donating how much? Uh first question. [00:27:08] you as a resident, is there an [00:27:09] educational value to this in terms of [00:27:11] not just the money in the account? What [00:27:14] can kids learn in this? [00:27:16] >> Well, I think they can learn a little [00:27:17] bit about the free enterprise system [00:27:19] about they can really learn uh a lot [00:27:21] about how life works, how business [00:27:24] works. They want to go out and make a [00:27:26] living for themselves because maybe it's [00:27:28] going to be a lot more than we think or [00:27:29] maybe it's not going to be quite as much [00:27:30] as we think. Depending on what happens [00:27:33] with the world and the market, we'll try [00:27:35] and do very well in that week or two. [00:27:37] There's a lot of learning to be done and [00:27:40] I think this uh it's a big step forward. [00:27:43] >> And your reaction, did either of you say [00:27:45] you're donating how much? [laughter] [00:27:48] >> Yeah, we we already said it's $6.25 [00:27:50] million. [00:27:51] >> No, I mean the reaction between the two [00:27:53] of you someone came up with the idea. [00:27:55] >> Oh. Oh, sure. Oh, well, so we we kind of [00:27:59] started with a smaller amount to be [00:28:00] honest [00:28:01] >> and and we started talking about uh [00:28:03] Texas only at the beginning and [00:28:06] >> adopting the state of Texas. [00:28:08] >> Right. Right. And then and we thought [00:28:09] about it some more and we thought about [00:28:11] >> got pretty excited about the idea. [00:28:13] >> Yeah. And we went back and forth and as [00:28:15] we do on these things and and we we [00:28:17] ended up [00:28:18] >> more excited and next thing [00:28:19] >> this is where we ended up. [laughter] So [00:28:21] uh but a lot of a lot of discussion and [00:28:23] consideration [00:28:25] >> uh over uh a long period of time. [00:28:28] >> Yeah. [00:28:29] >> To we believe we feel great about it. [00:28:31] >> The greatest investment that we could [00:28:32] possibly make is in children and we've [00:28:34] been investing in children for over 26 [00:28:36] years uh with our foundation. [00:28:38] >> Yeah. And and you know there there are [00:28:40] 30 states already that that require at [00:28:43] least one semester of financial literacy [00:28:45] and hopefully all 50 states will do [00:28:47] that. And you know, as children begin to [00:28:50] understand that they have these [00:28:52] accounts, that creates a real need for [00:28:56] our schools, our parents, our community [00:28:58] organizations to really begin to grow [00:29:01] financial literacy in the country, which [00:29:03] can only be a good thing. [00:29:06] >> It's really an amazing moment that uh [00:29:08] two people would do that kind of a [00:29:10] contribution. I mean, it's just an [00:29:12] amazing moment. And it shows you there's [00:29:14] a tremendous heart in great [00:29:16] entrepreneurs. He's a great [00:29:17] entrepreneur. They're both great [00:29:19] entrepreneurs because he probably [00:29:20] wouldn't have done it without you to be [00:29:22] honest. That's the way it often works. [00:29:24] And I know this relationship so well. [00:29:26] There could be a lot of truth to that. [00:29:28] But it shows you that there's a big [00:29:30] heart in some pretty tough people. He's [00:29:32] a tough cookie, but uh he's got a [00:29:35] [clears throat] a very very warm spot. [00:29:38] And what you've done, I don't think will [00:29:40] is going to be talked about for a long [00:29:41] time. won't be forgotten. Thank you, [00:29:44] sir. May [00:29:45] >> I ask you a question? Thank you, sir. My [00:29:47] question is about the logistics or the [00:29:49] administration of the program. You [00:29:50] obviously want to help poor children. [00:29:53] Um, how will you help families perhaps [00:29:55] who don't have access to computers or [00:29:57] internet at home to make this program a [00:30:00] reality? [00:30:01] >> You want to answer that question? [00:30:02] >> Sure. [00:30:03] >> And and please speak in the microphone [00:30:05] if you don't mind. [00:30:06] Um, well, first, Treasury, as the [00:30:10] secretary talked about, is going to be [00:30:12] administering the program. And, and we [00:30:14] should just say that Luke Pettit, the [00:30:16] assistant Treasury Secretary, has just [00:30:19] done an extraordinary job with the [00:30:21] secretary in what I think will be the [00:30:23] biggest consumer launch in the history [00:30:26] of government. 60 million accounts are [00:30:30] going to get created next year. And [00:30:33] these accounts, these accounts are going [00:30:36] to be, you know, uh, promulgated. All [00:30:39] parents are going to have to do is to [00:30:40] claim the account. So if they have [00:30:42] access to an Android phone or a public [00:30:44] library to go to a computer and and gain [00:30:47] access, they can claim that account. And [00:30:50] whether they claim it or not, the [00:30:51] account is going to continue to [00:30:52] compound. So they don't have a deadline [00:30:55] by which they have to claim the account. [00:30:57] There's time, right? And there's going [00:30:59] to be a lot of resources. Think about [00:31:00] this. [00:31:02] kids in school. We're going to have [00:31:03] schools engaged helping to tell them [00:31:05] that they need to claim their accounts, [00:31:07] to educate them, etc. We're going to run [00:31:09] a big public campaign around this. So, [00:31:11] we're just getting started. Today is day [00:31:13] one. This is an extraordinary [00:31:15] contribution, but it's the beginning of [00:31:18] a drum beat you're going to hear for the [00:31:19] next 6 months leading up to the 250th [00:31:22] anniversary of the country. I don't [00:31:24] think there's anybody in the country who [00:31:25] won't have heard about this by the time [00:31:27] we get to July 4th of next year. and [00:31:29] we're going to make sure, listen, we [00:31:31] know that wealthy families have access [00:31:33] to 529 accounts, right? This is an [00:31:37] opportunity and the instruction was how [00:31:39] do we get the 50 million other families [00:31:42] into the game? This is the first time [00:31:45] we've done that because we're [00:31:46] autocreating these accounts for every [00:31:48] child at birth. And so, we're going to [00:31:50] be very focused on making sure that [00:31:52] every family entitled to get one of [00:31:54] these accounts is able to claim it and [00:31:56] get it. [00:31:58] Daniel, do you have a question? [00:32:00] >> Yes, sir. This the these programs seem [00:32:02] to create an opportunity for parents to [00:32:04] create unprecedented financial security [00:32:07] for their children. Sir, do you believe [00:32:08] that these accounts be a big part of [00:32:10] your legacy when everything goes down? [00:32:12] We've heard talks about you legacy as a [00:32:15] peacemaker, but this is a really really [00:32:17] big deal. [00:32:18] >> Yeah, I appreciate that. I do think so. [00:32:20] And I think it's a big part of everybody [00:32:22] up here today. This was a group that was [00:32:24] very instrumental and uh in particular [00:32:28] obviously Michael and Susan, it's a big [00:32:31] part of their legacy. You know, they've [00:32:33] they've got a big legacy anyway, but [00:32:35] this is maybe going to be as important [00:32:37] or more important than anything they've [00:32:40] done thus far. It's uh you know, looking [00:32:42] back in a hundred years from now, I [00:32:44] think you're going to see some things [00:32:45] that are going to they'll be talking [00:32:46] about this very day. So, thank you for [00:32:49] that question. Uh yes, please. [00:32:52] >> Thank you, Mr. President. These accounts [00:32:53] were originally discussed as a way to [00:32:55] incentivize people to have more [00:32:56] children. Are there any other policy [00:32:58] proposals you're looking at like this to [00:33:00] encourage the birth rate to increase? [00:33:02] >> Well, we are looking at at programs. [00:33:04] We're looking at there's a certain [00:33:06] Australian plan that people are liking [00:33:08] that they're talking about. You know [00:33:09] what I mean? There's a uh plan where not [00:33:13] for children necessarily, but it's for [00:33:16] people, working people. And we we are [00:33:18] looking at other things different from [00:33:21] this. I think this is very unique but [00:33:23] different from this but very important. [00:33:25] Yeah. [00:33:26] >> You mean the Australian retirement [00:33:27] saving? [00:33:28] >> Say it. [00:33:28] >> You mean the Australian retirement [00:33:30] stand? Yep. We're looking at it very [00:33:33] seriously. It's a good plan. It's worked [00:33:34] out very well. Yeah. Please, [00:33:35] >> Mr. President. Um, can you talk about [00:33:37] what tax benefits these accounts come [00:33:39] with? Um, the information sheet that we [00:33:41] just received says that when a child [00:33:43] turns 18, they'll be treated like [00:33:45] traditional IAS and subject to a 10% [00:33:47] withdrawal tax. [00:33:49] Can you speak to when [00:33:52] children can be able to access they can [00:33:55] access them when they're 18 or they can [00:33:57] convert them to an IRA at that time. Uh [00:34:00] during the 18 years parents or employers [00:34:05] can donate with a tax deduction up to [00:34:08] $5,000 into each account and then [00:34:12] philanthropist the Michael and Susan can [00:34:15] add an unlimited amount to the accounts. [00:34:18] So, uh, $5,000 from employees or [00:34:22] families and then gifts from foundations [00:34:25] and philanthropists can be an unlimited [00:34:27] amount. [00:34:27] >> Mr. President, you said that you have [00:34:29] been talking to your wealthy friends as [00:34:31] well as you, Mr. Dell, about [00:34:32] contributing. Can you walk us through [00:34:34] maybe who you've been talking to and how [00:34:35] much more we can expect on top of [00:34:37] >> people you probably would think I would [00:34:39] be talking to. I have there's a group of [00:34:42] people out there that have been very [00:34:44] successful and we've already started [00:34:45] talking to them. You know, we're doing [00:34:47] ballrooms. We're doing uh arcs. We're [00:34:49] doing We have a thing that's being [00:34:51] planned that's going to be a great [00:34:53] tribute to the country, as you know. You [00:34:55] probably heard about it. The ark that [00:34:58] we're looking at by the bridge by near [00:35:00] Arlington. There's going to be [00:35:02] something. We're doing some other things [00:35:04] for Washington itself and for the [00:35:07] country itself. But a lot of the people [00:35:09] that have, you know, gone in and done a [00:35:12] real job with that, the ballroom, I [00:35:14] think, uh, Michael and Susan, the next [00:35:16] time we meet, well, I think we hopefully [00:35:18] we'll meet before then, but uh, we're [00:35:20] going to have a big event over in the [00:35:22] ballroom to celebrate this. We're [00:35:23] building, uh, a ballroom that they've [00:35:26] wanted at this uh, beautiful White House [00:35:28] for 150 years. They've wanted it so [00:35:31] badly. Right now, we can hold 109 [00:35:33] people, if you're lucky, in a room. It's [00:35:35] a beautiful room, but it's 109 people. [00:35:37] And we're building something. You see [00:35:38] the trucks in the back. You see the [00:35:41] clanging, the banging, and when it's [00:35:44] completed, it'll be one of the greatest [00:35:45] ballrooms anywhere in the world. It's [00:35:47] going to be amazing. So, people that [00:35:48] were involved in that process, I have a [00:35:50] lot of friends with a lot of success. [00:35:52] And every one of them, I would be [00:35:54] shocked if anyone turns us down. We're [00:35:56] going to have a lot of big contributors. [00:35:58] Jeff, [00:35:59] >> on a separate topic, if I may, sorry, [00:36:00] you had a call with Brazil's president [00:36:02] Lula today. Can you tell us what what [00:36:04] you discussed? Yeah, we had a great [00:36:06] talk. We talked about trade. We talked [00:36:08] about uh sanctions because, as you know, [00:36:11] I sanctioned them having to do with [00:36:13] certain uh certain things that took [00:36:16] place. But uh we had a very good talk. [00:36:18] He's I like him. Very good. We had some [00:36:22] good meetings as you know, but we had a [00:36:24] very good talk today. Yes, I did. [00:36:26] >> You also pardoned the former president [00:36:28] of Honduras and he was released from [00:36:29] from prison yesterday. Well, he was the [00:36:32] president and they had some drugs being [00:36:34] sold in their country and because he was [00:36:36] the president, they went after him. That [00:36:38] was a Biden horrible witch hunt which [00:36:40] was, you know, a lot of people in [00:36:42] Honduras asked me to do that and I did. [00:36:44] I feel very good about it. Uh, if you [00:36:47] have some drug dealers in your country [00:36:49] and you're the president, uh, you don't [00:36:52] necessarily put the president in jail [00:36:54] for 45 years. That was a Biden inspired [00:36:57] witch hunt. his letter impact your [00:36:59] decision on that from Mr. Stone. [00:37:01] >> Thank you so much, Mr. President. [00:37:03] >> Uh your decisions, recent decisions to [00:37:06] Syria renewed many hopes for the Syrian [00:37:08] people and now the minorities in Syria [00:37:11] like Kurds, Christians and Jews, they [00:37:13] once help us help them to have some sort [00:37:15] of autonomy and their rights being [00:37:18] protected in Syria. How do you [00:37:19] >> We're going to give them help and I [00:37:20] think Syria has come a long way. uh the [00:37:24] new leader of Syria was here as you know [00:37:26] three weeks ago and he was he was really [00:37:28] into making that country bringing the [00:37:31] country around not an easy job not an [00:37:33] easy job uh it's uh you know centuries [00:37:37] of problems but I think he's going to do [00:37:40] a good job I mean I have a lot of [00:37:42] confidence in him yeah [00:37:43] >> president Mr. President in the broader [00:37:46] context of the economy with these [00:37:47] childhood investments we just saw the [00:37:50] biggest black Friday in history 1% from [00:37:53] last year, $26 billion. Hasn't told me [00:37:56] about that. Um, we also saw that uh [00:38:00] pretty much spent a trillion dollars on [00:38:01] Christmas. [00:38:03] >> Yeah. [00:38:03] >> Uh, increasing 4.1%. 25 states gas was [00:38:06] below $3 with a handful below 250 and [00:38:08] getting better. Energy policy matters. [00:38:11] >> I like this guy. [00:38:13] >> And timing matters with real American [00:38:16] voice. [00:38:16] >> That's what I heard. That's what I [00:38:19] >> very much. Keep keep talking. So if you [00:38:21] invest with these children now the [00:38:23] economy the value of the economy is [00:38:24] better for the children right a pretty [00:38:26] good spot right here. [00:38:27] >> Well I do and I appreciate it. No we [00:38:29] have a an amazing thing we have over [00:38:32] almost 20 trillion dollars of investment [00:38:35] coming in. I don't even know if you know [00:38:36] that 20 trillion. That's a lot by any [00:38:39] standards, right? But, uh, Biden, as an [00:38:41] example, I say this, his administration [00:38:43] over a 4-year period had much less than [00:38:45] a trillion. And we have, we're up to 18, [00:38:48] I guess, right now, Scott, about 18 [00:38:50] trillion uh, in 10 months. And there's [00:38:54] never been a country, China, no country [00:38:56] has ever done anything even close to [00:38:58] that. Even if you figure 20% of that, no [00:39:01] country's done 20%. And it's because of [00:39:04] tariffs and because every and I think [00:39:06] because of November 5th the election the [00:39:08] election day but we have now under [00:39:10] construction I guarantee you're [00:39:12] expanding a lot of your different places [00:39:14] right for Dell but uh we have uh places [00:39:18] like that we have car companies we have [00:39:21] AI coming in at levels nobody's ever [00:39:23] seen anything like it it's amazing and [00:39:26] this all of these places hundreds and [00:39:29] hundreds of plants thousands they're [00:39:31] going to be opening and They're going to [00:39:32] be producing a lot of success, a lot of [00:39:35] jobs. And and I say it all the time, the [00:39:37] king of Saudi Arabia said to me a year [00:39:39] ago, he said, "One year ago, your [00:39:42] country was dead. And now you've got the [00:39:45] hottest country anywhere in the world." [00:39:47] And that's what we have. And it's one of [00:39:48] the reasons Michael's able to do this. [00:39:50] It's one of the reasons I'm able to be [00:39:52] here and, you know, haven't really run a [00:39:55] very successful campaign. We won all [00:39:57] seven swing states. We won the popular [00:39:59] vote by millions. We won uh the [00:40:02] districts I tell you the district vote [00:40:04] is the most impressive 2750 [00:40:09] compared to 550. That's some difference [00:40:12] and we just had a uh you know we just [00:40:15] had a tremendous election and a [00:40:17] tremendous vote of confidence and thank [00:40:18] you very much for that question. Mr. [00:40:21] President, [00:40:25] will you make a deal with Democrats? [00:40:27] >> Thank you press. [00:40:28] >> Mr. President, [00:40:29] >> thank you press. Can you make a deal [00:40:30] with Democrats on ACA subsidies? [00:40:32] >> Thank you. [00:40:36] >> Expand the travel ban. Mr. All [00:40:38] right. [00:40:45] >> Thank you. [00:41:09] Yeah. [00:41:12] Yeah.