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Trump Accounts Model Gains Traction as Social Security Reform Blueprint

The Trump administration is launching investment vehicles to reshape retirement savings. New accounts for children and independent workers are emerging as a potential framework for overhauling Social Security. Children born between 2025 and 2028 with Social Security numbers will receive $1,000 initial deposits, potentially reaching $50,000 by age 18 with additional growth. A parallel initiative, TrumpIRA.gov, targets workers lacking employer-sponsored retirement plans. Sen. Ted Cruz suggested the child accounts could serve as a model for Social Security personal accounts, noting the idea has attracted conservative support for five decades. The 2003 proposal to allow younger workers to redirect payroll taxes into personal accounts failed to gain public backing. Social Security faces projected trust fund depletion requiring eventual benefit adjustments, intensifying discussion around alternative savings mechanisms.