Robinhood Courts Congress With $35B Proposal To Seed Trump’s $1000 Account For Each Newborn

Robinhood Markets (NASDAQ: HOOD) is reportedly asking Congress to let “every citizen be an owner in the upside of America” starting at birth. CEO Vlad Tenev told lawmakers the trading app can open brokerage accounts for the roughly 3.5 million US newborns each year, each pre-loaded with a $1,000 federal deposit, “under budget.”

The proposal is hoping to be folded into the draft Invest America Act, whose backers tout it as a mass-ownership moon shot.

Under the bill, the so-called “Trump account” would track the S&P 500 until the child turns 18, at which point full trading access kicks in.

Cambria Gold Mines — sponsored Sponsored · Cambria Gold Mines

Robinhood’s marketing mock-up suggests a newborn who adds regular savings after 18 could watch the balance swell to $825,564 by age 30 assuming uninterrupted bull-market tailwinds.

Lobbying group Invest America pegs the upside even higher, claiming that “a $750 yearly top-up from friends and family” could leave every child $50,000 richer by adulthood. All told, the taxpayer tab would start at $35 billion over the first decade, before any private contributions.

The White House-hosted sales pitch drew executives from Dell Technologies, Goldman Sachs, and Uber Technologies. Lawmakers aim to squeeze the measure into a reconciliation follow-up to the former president’s “One Big Beautiful Bill,” sidestepping a standalone vote.

Yet Robinhood’s own path to the S&P 500 hit a speed bump: the index committee blocked HOOD’s admission on Monday, and the stock slid 6% on the Reuters report.

The snub underscores one awkward reality: the broker urging infants to “buy the index” they cannot yet join.


Information for this story was found via Protos and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

This Copper Mine Costs 1/6 to Restart | SSR Mining X Roxmore

Why Cambria Hit Pause on Its Massive Copper-Gold Spinout

Can Gold Rescue Washington From Its Debt Trap? | Andy Schectman – Miles Franklin

Recommended

Mercado Minerals Lengthens El Triunfo Vein by 190 Metres, Readies 1,500-Metre Zamora Drill Program

Blue Jay Gold Signs Ocean Partners Deal to Ship Steller Stockpiles Through 2027

Related News

Robinhood Rallies On FTX Buyout Rumours

Robinhood Markets (NASDAQ: HOOD) rallied as much as 19% on the day today following rumours...

Monday, June 27, 2022, 03:20:57 PM

Robinhood Reports August Metrics: Trading Jumped, Users Plateaued, Crypto Declined

Robinhood Markets, Inc. (Nasdaq: HOOD) announced its operating data for August 2022 on Monday after...

Tuesday, September 13, 2022, 11:26:42 AM

Robinhood’s IPO to be Priced at $38 Per Share

Robinhood’s IPO is expected to hit the Nasdaq today, but it appears that unenthusiastic demand...

Thursday, July 29, 2021, 09:00:00 AM

Robinhood Reports Extremely Disappointing 4Q 2021 Results; Still, It May Be Time to Start Covering Shorts

On January 27, 2022 after the regular market close, Robinhood Markets, Inc. (NASDAQ: HOOD) reported...

Sunday, January 30, 2022, 09:00:00 AM

Robinhood Working on Paycheck Early Deposit Feature

In yet another effort to provide all the tools necessary for Americans to liquidate any...

Thursday, September 2, 2021, 11:48:00 AM