How do ‘Trump accounts’ work – and who will benefit?
“As currently structured, these accounts will just become another tax shelter for the wealthiest, while the overwhelming majority of American families, who are struggling to cover basic costs like food, childcare and housing, will be hard pressed to find the extra money that could turn the seed money into a meaningful investment,” Amy Matsui, vice-president of income security and childcare at National Women’s Law Center, said in a statement ahead of the Tuesday press conference. “Moreover, the law prevents many children in immigrant families from benefiting altogether.”