Bessent says Trump Accounts will give Americans without investments 'a piece of the action'

July 6, 2026 - 17:11

Treasury Secretary Scott Bessent said the Trump administration's proposed investment accounts are designed to bring millions of Americans who currently sit on the sidelines into the stock market. Speaking to reporters, Bessent pointed out that while high-income families have enjoyed record-breaking gains in recent years, roughly 38% of U.S. households still have no exposure to equities or mutual funds.

"These accounts are about leveling the playing field," Bessent said. "We want people who have never owned a single share to get a piece of the action."

The plan, which Bessent outlined as part of a broader economic agenda, would create tax-advantaged accounts for low- and middle-income workers. Unlike traditional retirement plans, these accounts would be seeded with government contributions and would allow for earlier withdrawals without penalties. Bessent argued that the current system rewards those who already have capital, leaving a large segment of the population vulnerable to inflation and economic shocks.

Critics have questioned whether the proposal would actually reach the households Bessent described, noting that many of those families lack the financial literacy or stable income to participate. Bessent acknowledged the challenge but insisted that the accounts would include automatic enrollment and employer matching incentives to overcome those barriers.

The announcement comes as the administration seeks to broaden its economic appeal ahead of the next election cycle. Bessent framed the initiative as a direct response to growing wealth inequality, saying that "the stock market should not be a club for the wealthy." No timeline for legislative action was provided.