CHILDREN'S SAVINGS ACCOUNTS

CHILDREN'S SAVINGS ACCOUNTS

Congressional Record, Volume 172 Issue 41 (Wednesday, March 4, 2026) [Congressional Record Volume 172, Number 41 (Wednesday, March 4, 2026)] [House] [Pages H2412-H2414] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] CHILDREN'S SAVINGS ACCOUNTS (Under the Speaker's announced policy of January 3, 2025, Mr. Moore of Utah was recognized for 60 minutes as the designee of the majority leader.) General Leave Mr. MOORE of Utah. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the topic of this Special Order. The SPEAKER pro tempore. Is there objection to the request of the gentleman from Utah? There was no objection. Mr. MOORE of Utah. Mr. Speaker, I am glad to be joined by my colleagues this evening. Before my remarks, I yield to the gentleman from Colorado (Mr. Crank). Mr. CRANK. Mr. Speaker, I thank the gentleman for yielding. Mr. Speaker, America often faces difficult moments and difficult choices. Presidents are no different. They oftentimes have to face difficult decisions, and I hope that Members of this body will think about their vote as they decide whether to support the President in this effort or not and apply the same standard. I have always thought to try and apply the same standard, whether the President belongs to the Republican Party or the Democratic Party, apply the same standard. I rise today in support of President Trump's action against Iran. The Iranian regime has been threatening America for nearly 50 years. It has killed countless American citizens, and it has brutally killed our servicemembers. I had a gentleman in my district come up to me the other day. This was before the President took action, and he said: We must take action. He said: I have lost 20 of my friends to the Iranians, to their terror throughout the years. He had served 24 years in the United States Army. In years prior, we have had Presidents use strikes against our enemies and have done it without congressional approval because the Constitution does a couple of things. In Article I, it gives Congress the power to declare war, but in Article II, it gives the President the power to be the Commander in Chief. Our Founders intentionally made it inherently contradict in that way. They wanted to diffuse power. They didn't want to give all the power to Congress, and they didn't want to give all the power to the President of the United States, so they intentionally did that. Presidents throughout time have used that. Thomas Jefferson in the First Barbary War did not come to Congress. He deployed troops in the Barbary War. The War of 1812, the same thing was done, although Congress did come back and authorize and declare war. It wasn't done at first. We have had Presidents use these strikes against our enemies without [[Page H2413]] congressional approval in modern times, like President Obama in Libya or President Clinton in Kosovo. Yet, for some reason, the other side of the aisle wants to make a political statement on this particular issue because of who the President is. {time} 1750 Mr. Speaker, that is not a standard any of us should apply. I would hope, as a legislator--I wasn't here when Bill Clinton was President. I wasn't here when Barack Obama was President. I can say that I had a public life then. I didn't go out and attack the President of the United States at that time. I am here to support the men and women of the military and the Presidents who have to make tough decisions from time to time. For some reason, on the other side of the aisle, many want to make a political statement rather than just let the President use his legal authority as Commander in Chief, as stated in the Constitution. Both Republican and Democratic Presidents have attempted to negotiate deals with this Iranian regime, only to be met with lies and deception. We have seen it time and time again. Mr. Speaker, I want to be clear. If President Trump had not acted, every American life in the region would have been in immediate peril. The President and his administration have set clear goals. What are they? They are to annihilate their nuclear capabilities, to annihilate their Navy, and to annihilate their missile and delivery capability. This will save the globe from Iran's regime of terror. Time and time again, my colleagues on the other side of the aisle have claimed that any military action will draw us into a long-term war. They say it is going to happen. Just a few short months ago in Venezuela, we had folks who said: Well, why didn't the President come to Congress and have us declare war? Did we declare war on Venezuela? No. Are we at war with Venezuela? No. It was a 1-day action that the President has the authority to undertake as Commander in Chief of the United States military. It didn't happen in Venezuela. They told us that the President will draw us into a long-term conflict. It didn't happen in Operation Midnight Hammer when the President ordered B-2 bombers to deliver strikes on Iranian nuclear sites. It is not going to happen now. President Trump made every effort to find a peaceful and negotiated solution to this crisis. Ayatollah Khamenei only sought death to America. He had no intention of negotiating. In fact, for 47 years, this regime has simply used deception, lies, and deals to kick the can down the road so that they could pursue their nuclear ambitions. They were never giving up on that. They didn't give up on it after Operation Midnight Hammer and not until this regime has ended. Due to Khamenei's death, I believe the United States has avoided a prolonged conflict that would have killed many Americans. I find some of the comments by my colleagues on the other side of the aisle outlandish, and I hope that they will choose. So many say they support the nation of Israel. So many can stand up and say they support our men and women in the military. It is time to choose. Will they choose to defend our Nation first instead of their political games directed at a President? If they choose political games directed at a President, when this President is gone, they will have damaged the institution of the Presidency. They will have damaged the honor of this House of Representatives. Mr. MOORE of Utah. Mr. Speaker, the gentleman from Colorado is adjacent to some of the most important military apparatuses of our country, USAFA, where we share a border. I appreciate his focus on such a strong need for our military. Mr. Speaker, I want to take this opportunity to express my excitement, which I don't often say, my excitement for this tax season. Those are not words I oftentimes say, nor do many Americans. There is reason to be excited this year in the wake of passing incredibly important, progrowth tax policy last summer, which the House Republicans led and then signed into law. This is historic relief. The thing I wanted to highlight is what we are providing for working families and everyday Americans. In that, there is one specific thing that I wanted to highlight. That is Trump Accounts. These are the new investment accounts for children. Invest America has been an initiative for several years. It has been a thought and an idea for even longer, decades even. We were able to get this signed into law, and it will be enacted and started later this year. Mr. Speaker, I will talk a little bit more about what the process is and what this actually is. This is a transformational investment for kids in every ZIP Code. It doesn't matter if a person lives in an apartment, a big city, or on a country road out in rural America. Our kids will have access to something that most people don't take advantage of until they are well into their careers. Trump Accounts allow parents, guardians, and other custodians to establish a new type of tax-advantaged individual savings and investment account for children. As part of a special pilot program, every American child born between January 1, 2025--more than a year ago--and December 31, 2028, is eligible to receive an automatic deposit of $1,000 from the U.S. Government into their accounts, giving every newborn a stake in the future success of the American economy. Parents can also contribute up to $5,000 per year and employers up to $2,500 per year. State, local, and Tribal governments, as well as charities, can also contribute. We have seen significant interest in this program, including an incredible contribution of $6.25 billion with a b from Michael and Susan Dell and their family's private foundation. That contribution is going to be geared toward those children who were born in the last 10 years. The initiative that we passed this year will be focused on the next 4 years. What Michael and Susan Dell have done is they contributed over $6 billion to start these accounts and seed them with money for children, essentially ages 2 through 10, in neighborhoods and communities across our country. This will get them started. They have this investment account that they will have, as I mentioned, well into their careers. I think it essentially gives them a 30-year head start on their retirements. At the very heart of this policy is the goal of providing opportunities for Americans at that very early age. Good government policy empowers the individual. It nurtures and encourages the best of human ingenuity and, of course, human progress. That is exactly what these investment accounts aim to do. The United States boasts the world's strongest economy. Thanks to strong capital markets and household investments, we can contribute to our communities, society, and economy. We can improve our overall quality of life and seek financial realities better than the ones from which we came. However, wealth and opportunity gaps prevent millions of people from taking advantage of the capital markets that could help build household wealth. Capitalism is the gateway to opportunity a