press release

Washington, DC – Ahead of Donald Trump’s announcement on the creation of the pronatalist-inspired “Trump accounts,” which were included in the massive tax and budget bill that Trump and congressional Republicans passed into law in July, the National Women’s Law Center (NWLC) is raising concerns that these accounts will not meaningfully help families most in need.

“While we support direct investments in families, the Trump accounts being hailed by the White House are a policy solution that doesn’t meet most families’ needs,” said Amy Matsui, vice president of income security and child care at NWLC.

“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, child care, and housing, will be hard pressed to find the extra money that could turn the seed money into a meaningful investment. Moreover, the law prevents many children in immigrant families from benefiting altogether.

“In the end, this policy mirrors the rest of the law: another giveaway to the richest Americans that leaves everyone else further behind. If the White House were serious about supporting families struggling with the costs of living, it would be advocating for investments in child care, an expanded Child Tax Credit, and undoing the historic cuts to SNAP and Medicaid.”

While “Trump accounts” could further exacerbate inequality, NWLC is supportive of “baby bond” proposals that would invest in families who are struggling the most, such as the American Opportunity Accounts Act which has been previously introduced by Senator Cory Booker (D-NJ) and Representative Ayanna Pressley (D-MA). 

NWLC is leading efforts to call out the dangerous pronatalist agenda inside the White House. Earlier this year, it released a first-of-its-kind report detailing the racist and sexist underpinnings of this movement and how it is shaping White House policy.

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