politics
Frank Bisignano Tapped to Lead Trump Accounts Expansion
Frank Bisignano, also serving as Social Security Administration commissioner, was selected to oversee growth of the Trump Accounts program. He told CNBC he aims to enroll 70 million children under 18.
Jul 16, 9:20 AM·1m read1 source
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Frank Bisignano has been selected to lead the expansion of Trump Accounts, CNBC reported. Bisignano, who also serves as commissioner of the Social Security Administration, discussed the program on CNBC's Squawk Box on Thursday. He said the objective is to enroll 70 million children under 18.
As of a July 10 tally from the U.S. Treasury Department, families have signed up 6.5 million children. Bisignano stated that every family should be enrolled and that enrollment is a technology business that must be made simple.
He has met with CEOs of tax-preparation companies to discuss distribution capabilities and mentioned the potential for banks to handle accounts. The program includes $1,000 in federal seed money for babies born between 2025 and 2028, matching funds from employers, and grants from philanthropists including Michael and Susan Dell.
Altimeter Capital CEO Brad Gerstner, who helped spearhead the program, said earlier this month that he hopes the government will auto-create 70 million accounts for every child under 18 through the Social Security Administration over the next few months.
