President Donald Trump has proposed creating accounts that would give eligible Americans $1,000 in free money, but questions remain about who qualifies and how the accounts would work.
Here's what we know about the proposal:
Who is eligible?
Trump has suggested the accounts would be available to children born after a certain date, though he has not specified an exact cutoff. The proposal would appear to apply to U.S. citizens and potentially permanent residents.
How much money would be provided?
Trump has indicated each eligible person would receive $1,000 to start the accounts.
Where could the money be invested?
Trump has suggested the accounts could function similarly to 529 college savings plans, allowing money to be invested in stocks, bonds and other financial instruments. He has also proposed allowing funds to be used for education, home purchases and other major expenses.
When would the accounts be established?
Trump has not provided a specific timeline for implementing the program. The proposal would require congressional approval and legislation to establish.
How would the program be funded?
Trump has not detailed how the federal government would finance the $1,000 accounts for all eligible Americans, which could cost billions of dollars depending on eligibility requirements.
