White House releases details of President Trump’s MRI scan
The White House has released details of an MRI scan taken as part of President Donald Trump’s “comprehensive administrative medical examination.”
WASHINGTON – Michael Dell, founder and CEO of Dell Technologies, is donating more than $6 billion to President Donald Trump’s new newborn account – and the president hopes others in the business world will follow the billionaire tech executive’s lead.
Dell will join Trump in the Oval Office to announce the donation on Tuesday, Dec. 2, the White House exclusively confirmed to USA TODAY, saying the move is expected to add $250,000 to about 25 million Trump accounts. This funding is on top of $1,000 in federal dollars that will serve as seed money to start your account.
Under the program, American children born between 2025 and 2028 will be eligible to receive a one-time contribution of $1,000 per child from the federal government to participate in mutual funds or index funds that track stock market performance. Parents will be able to start contributing to the account in July 2026.
“The Trump Account for the One Big Beautiful Act is a revolutionary investment by the federal government in the next generation of American children,” White House Press Secretary Khush Desai said in a statement. “This is also President Trump’s call for America’s businesses and philanthropists to do their part. Michael and Susan Dell’s $6 billion investment in America’s children is the first of many announcements for America’s children.”
The “Trump Account” was created by the president’s mega-legislation known as the “One Big Beautiful Bill,” passed by Congressional Republicans in July. These are effectively individual retirement accounts (IRAs) for children, designed to encourage children and families to save and build wealth.
To qualify, all your baby needs is a social security number. There are no income restrictions. Parents and others can contribute up to $5,000 a year to the account until the child turns 18. Employers can contribute up to $2,500 against a $5,000 limit. State and local governments and private charities are eligible for a wide range of donations.
Qualified withdrawals, such as education expenses, certifications, a down payment on a first home, or money to start a small business, are taxed at long-term capital gains rates.
Mr. Dell attended a White House event in June and heard President Trump promote the “Trump Account” weeks before the passage of the giant bill. Dell Technologies, Salesforce, Uber, Goldman Sachs and others announced at the time that the White House had committed to investing in the accounts of their employees’ children.
The account was originally proposed by Republican Sen. Ted Cruz of Texas in the Investing in America Act.
“Inspired by President Trump signing the American Investment Act, Susan and I are excited to go beyond the commitment from the U.S. Treasury and contribute $6.25 billion to create 25 million additional accounts for America’s children,” Dell said in a statement.
“We see this as a very real and powerful step to help more American families, and a timely way to turn this country’s growth into opportunity for all children,” Dell said. “We know that a financial head start can give America’s young people confidence and the momentum to shape their futures. If every child can see a future worth saving for, we can build hope and prosperity for future generations.”
The Treasury Department and IRS are also expected to issue formal guidance on the implementation of Trump Accounts on Tuesday.
The White House is working to highlight parts of the One Big Beautiful Bill, which is set to go into effect next year.
In addition to President Trump’s account, the legislation extended President Trump’s 2017 tax cuts, eliminated the tax on tips, allocated billions of dollars in funding for a border wall, and reduced Medicaid and food stamp benefits through new eligibility requirements.
X Contact Joey Garrison at @joeygarrison.
