WASHINGTON, D.C. — U.S. Senators Cory Booker (D-NJ) and Ted Cruz (R-TX) sent a letter to the CEOs of Fortune 1000 companies urging them to support child investment accounts created by H.R. 1, theOne Big Beautiful Bill Act of 2025. The accounts, which build off Senator Booker’s proposed American Opportunity Accounts, or “Baby Bonds,” are private, tax-advantaged accounts for every American child at birth, seeded with a $1,000 investment from the federal government.
Read the full letter here or below:
“Next year, millions of American children will open a “Trump Account,” a groundbreaking new investment vehicle enacted as part of the One Big Beautiful Bill (OBBB) Act. These accounts will launch a once-in-a-generation expansion of economic opportunity and prosperity for every American child, helping millions of families realize the American dream through homeownership, education, or entrepreneurship. As champions of the policies that ground the Invest America Act, which created the $1,000 seeded account for every child born in the United States and allows for additional private investment to grow with our capital markets, we write to encourage you to join us in delivering on this promise for our country.
“These tax-advantaged accounts ensure that every American child is an immediate shareholder in America’s largest companies and will experience the miracle of compound growth through their lifetime. We believe these accounts—much like 401(k)s—represent a transformative tool for building long-term financial security, expanding economic prosperity, and fundamentally restoring confidence in American capitalism.
“This initiative was deliberately designed to allow contributions not only from family, friends, and philanthropists, but also from employers who wish to invest in the future of their employees’ children. This structure creates a unique opportunity for corporate America to lead with action. Many companies have already pledged support, and we encourage your company to explore how you might contribute at a level aligned with your mission and capacity. By matching contributions for employees’ families, investing in the communities where you operate, or integrating these accounts into your philanthropic strategy, you can significantly enhance the impact of this historic initiative.
“As America approaches the 250th anniversary of the signing of the Declaration of Independence, our Nation will rightly celebrate and honor the principles that still define our country today. The company you lead has a unique opportunity to participate in this celebration. We encourage you to join us in this effort to deliver generational impacts for the financial security and personal freedoms of American citizens for generations to come.”
BACKGROUND:
In October 2018, Senator Booker announced the American Opportunity Accounts Act, also known as “Baby Bonds,” legislation that would create a federally-funded savings account for every child in order to make economic opportunity a birthright for everyone in America and help close the racial wealth gap. Since the legislation was first introduced, momentum for Baby Bonds has grown in Congress and in state legislatures across the country.
The legislation would give every child a fair chance at economic mobility by creating a seed savings account of $1,000 at birth. The funds would sit in an interest-bearing account that would receive additional deposits each year depending on family income. At age 18, account holders could access the funds in the account for allowable uses like buying a home or paying for educational expenses. The legislation is fully paid for by making common sense reforms to federal estate and inheritance taxes, including restoring the estate tax to 2009 levels.
In July 2019, Senator Booker reintroduced the American Opportunity Accounts Act, and U.S. Representative Ayanna Pressley (D-MA-07) introduced companion legislation in the House.
In January 2021, U.S. Senator Cory Booker (D-NJ) and Congresswoman Ayana Pressley (D-MA) urgedthen President-elect Joe Biden and Vice President-elect Kamala Harris to include the American Opportunity Accounts Act, or “Baby Bonds,” in the next economic recovery package.
In February 2021, Senator Booker and Congresswoman Pressley reintroduced the American Opportunity Accounts Act with the support of 15 Senators, including Senate Majority Leader Chuck Schumer.
In August 2021, Senator Booker led a letter urging Majority Leader Chuck Schumer to include the American Opportunity Accounts Act, or “Baby Bonds,” in the reconciliation package.
In February 2023, Senator Booker and Congresswoman Pressley reintroduced the American Opportunity Accounts Act with the support of 15 Senators, including Senate Majority Leader Chuck Schumer.