Source: United States House of Representatives – Representative Mike Johnson (LA-04)
WASHINGTON — Today, Speaker Johnson delivered remarks at the U.S. Treasury Department’s Trump Accounts Summit to highlight this transformational new policy, signed into law through Republicans’ Working Families Tax Cut bill. Speaker Johnson was joined at the Trump Accounts Summit by President Trump, Senator Cruz, Chairman Jason Smith, Michael Dell, Kevin O’Leary, Nicki Minaj, and others.
“At the very heart of this policy is the goal of putting young Americans back in the driver’s seat of their own destinies and opportunities at an early age,” Speaker Johnson said. “Good government policy empowers the individual, and it nurtures and encourages the best of human ingenuity and human progress. That’s exactly what the Trump Accounts aim to do.”
Watch Speaker Johnson’s full remarks here.
Below are Speaker Johnson’s remarks as delivered:
It’s so great to be with you all. I was delighted to come out, but I did not want to follow Nicki Minaj. I told her backstage, I almost wore that coat today, and I’m so glad that I didn’t. Really, it is such a great privilege to join you all today. It’s great to be with an extraordinary group of visionaries, people who care so much about this country and about its future.
And it’s a really broad and diverse coalition. And that’s what’s so exciting about this. So many people have come together because we all care about the same things. We care about our children, we care about working families, and we care about the future of this extraordinary country. It is no small thing to get such a large group excited about tax policy, Mr. Secretary. So, we don’t take that for granted. It doesn’t happen very often.
When President Trump returned to office, we were all very excited. We were excited to get going. We wanted to chart America’s renewal, and we didn’t waste a moment in that. The Republican-led Congress got right to work. We worked to steer this country of ours back toward common sense and to undo all of the damage that was really wrought by the four years of Bidenomics.
We had a lot to fix; as you know, we inherited a real mess. The unmitigated crisis at our border was the number one issue in the 2024 election because we had to correct that. But it was also the economy and decades-high inflation was fueled by failures of Bidenomics. And it was a serious problem for all American families. Four long years, we had to endure that.
The only solutions offered during that time were by the Biden Administration, the Democrats in charge. They wanted another government program. They wanted another federal agency. They wanted more taxes and more government spending. And I am here to declare to you today what you have all seen demonstrated: those days are now behind us, and we are so grateful for that.
Republicans are ushering in a New Golden Era, a New Golden Age. And this is certainly true. It’s driven not by more government, but by the talent and the ingenuity and the industriousness of the American people. And that’s at the very heart of what we are celebrating here today.
Now, I want to tell you that what we got done in the first year of the Trump Administration was a remarkable thing. I think history will record that it was one of the most productive years of any new administration or Congress, certainly in the modern era. And I think it’s in the top five of all time if you look back at history. And people are going to see and feel the effects of that now.
The Working Families Tax Cuts was such a transformational, nation-shaping piece of legislation. There was so much in it, there was so much to share about it. But with One Big Beautiful Bill, we simplified the tax code. We reduced the tax burden on families, and we advanced a policy agenda that puts working families first.
And during this tax season, which starts this week, tens of millions of Americans are going to see the effects of that, bigger paychecks and bigger tax refunds. We wrote this legislation for small business owners and for lower- and middle-income families, the very people who suffered the most during the Biden years.
It’s with these Americans in mind that the Trump Accounts was born. You’ve heard so much about it today, and I don’t want to reiterate all the facts, but there’s some exciting things here. At the very heart of this policy is the goal of putting young Americans back in the driver’s seat of their own destinies and opportunities at an early age. Good government policy empowers the individual, and it nurtures and encourages the best of human ingenuity and human progress. That’s exactly what the Trump Accounts aim to do.
With this historic new savings tool, more Americans will be saving, investing, and building a solid financial footing. And as you’ve been told, Trump Accounts will come online on July 5, I think poetically, just a day after we celebrate our 250th birthday, the 250th birthday of the greatest nation in the history of the world.
And I like to remind groups all the time, everywhere I am, don’t take that for granted. We live in the greatest nation in history. It’s the most free, most successful, most powerful, most benevolent nation that has ever been.
And America’s 250th, our anniversary that we celebrate this year, is a chance for all Americans to celebrate and recommit to the founding principles that made all that possible. The principles upon which our nation was built. Among those principles is the belief in the free market, the belief in individual responsibility and financial stewardship. The belief that everybody gets a shot. And the simple but powerful idea that if you work hard and play by the rules, you can improve the standing of your family in one generation.
Our goal with Trump Accounts was to put those foundational ideas back in focus, particularly for the millions of middle- and working-class Americans who have felt those ideas, they felt for the last several years that the American dream itself was slipping further and further beneath their grasp.
And we’ve heard for those who opt in, as we’ve heard today, the Trump Accounts have the potential to help children accrue tens of thousands of dollars by the time they reach adulthood. And that could make the difference, the difference in so many lives when it comes to paying for college or buying their first home or starting their own business. What an extraordinary concept and what a fitting way to invest in America’s future as we celebrate 250 years since our nation was born.
Trump Accounts are a truly transformational piece of policy that can change the lives of every American. And the beauty of this: it has nothing to do with your race or religion or color or creed. It’s for everybody.
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