On the face of it, the so-called “Trump accounts” — which would provide parents of newborns with $1,000 to invest on behalf of their child’s future — would be a plus for many families.

ToplineA group of high-profile CEOs joined President Donald Trump at the White House on Monday to showcase a proposed investment account program, named after the president, for newborn children. Key FactsTrump officially announced the “Trump savings accounts” at a Monday afternoon roundtable alongside Dell CEO Michael Dell,

President Donald Trump on Monday highlighted a proposal for a new, federally funded benefit that would automatically create investment accounts for every baby born in the U.S. over the four years of his second term.