Cruz Encourages U.S. Companies To Contribute To ‘Trump Accounts’

U.S. Senator Ted Cruz is urging American companies to start contributing to so-called Trump Accounts.

The program allows parents and their employers contribute up to five thousand dollars a year to a child’s retirement account, with a penalty for withdrawing money early except for education, a first-time home purchase or disaster recovery.

Cruz, who led the legislation last year to create the program, spoke at an event in Austin on Monday. The Texas Republican was joined by business leaders, including Michael Dell.