"Zoom in: Like any private philanthropy, Dell's massive donation - which will seed 25 million child investment accounts with $250 - is ultimately dwarfed by the $7 trillion federal budget. But its power lies in its ability to bypass congressional gridlock, allowing Trump to broaden a popular benefit - $1,000 for newborns starting next year - far beyond what lawmakers were willing or able to authorize."
"What they're saying: "This gift is being made possible by the largest tax cuts in American history, which our Republican majorities passed earlier this year," President Trump said alongside Dell on Tuesday. "Thanks to President Trump's leadership, America's richest billionaires are giving away their money to Make America Great Again - from investing in Trump Accounts for our children's future to supporting our troops. Democrats could only dream of accomplishing this," White House spokesman Kush Desai told Axios in a statement."
Large private donations directed to Trump-aligned initiatives are channeling significant resources into the president's personal ecosystem and enabling policy expansion without congressional authorization. Michael Dell's $6.25 billion gift will seed 25 million child investment accounts with $250 each, and its leverage comes from circumventing legislative gridlock to broaden newborn payments to $1,000. Timothy Mellon’s $130 million backstop for troop salaries translated to roughly $100 per service member. Wealthy donors have financed inaugurations, White House amenities, and insulated projects off the federal balance sheet, concentrating influence and risking public accountability in favor of private patrons.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]