Washington DC - President Donald Trump joined with business leaders to promote a new scheme in which newborn babies will be provided with a one-time payment to be invested in the stock market.

Trump used Monday's roundtable to tout his new scheme, which he termed "Trump Accounts," and will provide a $1,000 contribution to an index fund for all children born between January 2025 and January 2029.

The new Trump Accounts will track a specific stock index, and the child's legal guardians will be able to make contributions into it of up to $5000 per year.

"This will afford a generation of children the chance to experience the miracle of compounded growth and set them on a course for prosperity from the very beginning," a statement from the White House read.

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Trump appeared at the roundtable flanked by House Speaker Mike Johnson and his Chief of Staff Susie Wiles, as well as an assortment of CEOs from the technology and finance industries, including Dell, Uber, and Goldman Sachs, among others.

The establishment of the Trump Accounts scheme depends on the passing of the "One Big, Beautiful" spending bill through Congress, as it is one of many measures included in the legislation.

"This is a pro-family initiative that will help millions of Americans harness the strength of our economy to lift-up the next generation," Trump said in a statement as he opened the roundtable.

Business leaders in the room praised the scheme, with Dell CEO Michael Dell going as far as to call Trump Accounts a "simple yet powerful way to transform lives."

"This initiative gets at the core of binding those future generations to the benefits and the potential of America's great companies and markets," said Goldman Sachs CEO David Solomon.