{"id":1769,"date":"2026-06-29T20:17:06","date_gmt":"2026-06-29T20:17:06","guid":{"rendered":"https:\/\/corporate-movers-usa.com\/?p=1769"},"modified":"2026-06-29T20:17:06","modified_gmt":"2026-06-29T20:17:06","slug":"john-fetterman-says-he-will-open-trump-accounts-for-his-kids-urges-others-to-do-the-same-during-rare-philadelphia-appearance","status":"publish","type":"post","link":"https:\/\/corporate-movers-usa.com\/?p=1769","title":{"rendered":"John Fetterman says he will open Trump Accounts for his kids, urges others to do the same during rare Philadelphia appearance"},"content":{"rendered":"<div>\n<div>\n<div><audio><\/audio><\/div>\n<\/div>\n<p>In a rare public appearance in Philadelphia, Democratic U.S. Sen. John Fetterman joined Republican U.S. Sen. Dave McCormick at a youth basketball camp in Nicetown on Monday to promote Trump Accounts, the new federally backed savings accounts for kids that became law with the president\u2019s signature One Big Beautiful Bill Act.<\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=1767\">Police find \u2018significant amount\u2019 of blood inside Olney house linked to investigation of missing women, sources say<\/a><\/p>\n<div><\/div>\n<p>Fetterman \u2014 who did not vote for the GOP-led initiative last year but has more frequently supported President Donald Trump\u2019s policies since then \u2014 said he was urging families in deeply Democratic Philadelphia to look past Trump\u2019s name on the program.<\/p>\n<div><\/div>\n<div><\/div>\n<p>\u201cDo not fall into that political trap,\u201d Fetterman said. \u201cThis isn\u2019t some radical thing&#8230; Do this for your child.\u201d<\/p>\n<div><\/div>\n<p>The accounts, which launch on July 4, are available to children under 18 \u2014 with children born between Jan. 1, 2025 and Dec. 31, 2028 receiving $1,000 in seed money. <\/p>\n<div><\/div>\n<p>All accounts will also receive $250 because of a $6.25 billion donation from tech CEO Michael Dell and his wife Susan Dell. Families, businesses and nonprofits can add up to $5,000 annually. A portion of the funds may be accessed when the child turns 18 while the rest is transferred into an IRA retirement account.<\/p>\n<div><\/div>\n<p>\u201cWho is excited about getting $200? Put your hands up,\u201d McCormick asked more than 100 kids gathered on one of the indoor courts at Philadelphia Youth Basketball\u2019s summer camp, at the Alan Horwitz \u201cSixth Man\u201d Center in Nicetown.<\/p>\n<div><\/div>\n<div><\/div>\n<p>Both McCormick and Fetterman appealed directly to the kids during speeches in between basketball camp drills.<\/p>\n<div><\/div>\n<p>Despite being 6-foot-8 and palming a basketball as he posed for pictures, Fetterman said his basketball skills weren\u2019t \u201cworth much.\u201d But he told the kids he was there because he wanted them all to be millionaires someday. And the Trump accounts \u2014 which he said he and his wife, Gisele, would open for all three of his kids \u2014 were a step in that direction.<\/p>\n<div><\/div>\n<p>\u201cI am begging your parents to get involved in this,\u201d Fetterman said. \u201cIt\u2019s about all of your futures.\u201d<\/p>\n<div><\/div>\n<p>In a joint interview after the event, the senators described the initiative as a groundbreaking effort to build long-term wealth for individuals who don\u2019t typically have access to it. <\/p>\n<div><\/div>\n<div><\/div>\n<p>\u201cThis is one of many things that we need to do to think about how we address a fundamental problem \u2014 which is, we have a growing concentration of wealth in our country,\u201d McCormick, a former investment firm CEO and millionaire many times over, said.<\/p>\n<div><\/div>\n<p>\u201cHe was talking almost like a Democrat&#8230; a concentration of wealth,\u201d Fetterman quipped, causing McCormick to laugh.<\/p>\n<div><\/div>\n<p>The accounts were established as part of Trump\u2019s most significant legislation of his second term, which narrowly passed Congress last year. <\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=1765\">Float builders are transforming history into colorful, sequin-filled displays for the Semiquincentennial parade<\/a><\/p>\n<div><\/div>\n<p>Fetterman, at the time, joined other Democrats by calling the bill a \u201cdisaster\u201d for its cuts to Medicaid spending and other programs like the Supplemental Nutrition Assistance Program, or SNAP. <\/p>\n<div><\/div>\n<div><\/div>\n<p>After voting against the law \u2014 or voting \u201chell no,\u201d as he said at the time \u2014 Fetterman has broken with his party to support Trump and Republicans in a number of high-profile moments, and in ways that have deeply frustrated Democratic voters. His appearances at public events in Philadelphia and around Pennsylvania have been extremely rare, and many political observers question whether he will seek re-election in 2028.<\/p>\n<div><\/div>\n<p>At the same time, Fetterman has developed a close working relationship with McCormick, a Republican elected in 2024. The pair frequently partner on issues in Washington and stress the need for bipartisanship, particularly in a purple state like Pennsylvania.<\/p>\n<div><\/div>\n<p>\u201cHe and I are in this together,\u201d McCormick, who has stopped in Philadelphia frequently, including for meals with Democratic Mayor Cherelle L. Parker, told the crowd Monday.<\/p>\n<div><\/div>\n<p>Philadelphia Youth Basketball CEO Kenny Holdsman said he\u2019d worked with both senators in the past, and he credited a conversation he had with Fetterman for helping push the organization to keep its doors open for longer hours as safe haven for the 2,400 young people in its programs.<\/p>\n<div><\/div>\n<div><\/div>\n<p>Holdsman said the Trump Accounts would \u201creally help young people and their families in a big way\u201d \u2014 from the financial security that comes with a compounding investment account, to the educational and financial literacy aspect that will come with kids having access to their savings.<\/p>\n<div><\/div>\n<p>Invest America founder Brad Gerstner, who had pushed for the idea behind Trump Accounts for years and now leads the nonprofit that manages the initiative, showed the kids a screenshot of the app that will display the contents of each account. <\/p>\n<div><\/div>\n<p>\u201cWe want kids across the country, when they\u2019re in middle school, to be able to open up this on their phone, so it\u2019s not some abstract notion that I have money. This is the way the teachers in public schools are going to be able to teach them about ownership, compounding, financial literacy, et cetera,\u201d Gerstner said. \u201cIt\u2019s hard to teach kids about money when they don\u2019t have any money.\u201d<\/p>\n<div><\/div>\n<p>Bipartisan groups have said the Trump Accounts do not have the same kind of tax-advantaged structure as other investment accounts, such as 529 plans that are specifically used for education. Cato Institute, the conservative think tank, has also criticized the $1,000 contributions for children born in the years around the program\u2019s founding and called the overall plan \u201ca government welfare program rather than a tax-neutral investment vehicle.\u201d<\/p>\n<div><\/div>\n<p>Fetterman said he supported 529s but the Trump Accounts were a \u201cmuch more versatile vehicle\u201d for investing in children\u2019s futures. McCormick said the program\u2019s ability to accept philanthropic donations made it particularly appealing as other individuals and corporations can buoy the accounts on top of families\u2019 investments. Both also stressed convenience, with McCormick saying families won\u2019t have to worry as their money is safely invested in the the S&amp;P. <\/p>\n<div><\/div>\n<p>\u201cYou\u2019re going to share in the prosperity of America,\u201d McCormick said. \u201cIt\u2019s easy. You don\u2019t have to overthink it.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=1763\">Here\u2019s how experts are grading the Flyers\u2019 2026 NHL draft<\/a><\/p>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trump Accounts, which will launch on July 4, were part of the president&#8217;s One Big Beautiful Bill Act.<\/p>\n","protected":false},"author":1,"featured_media":1768,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,13],"tags":[],"class_list":["post-1769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pennsylvania","category-politics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>John Fetterman says he will open Trump Accounts for his kids, urges others to do the same during rare Philadelphia appearance - 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