{"id":16621,"date":"2026-07-06T23:32:39","date_gmt":"2026-07-06T15:32:39","guid":{"rendered":"https:\/\/tingchao.xyz\/?p=16621"},"modified":"2026-07-06T23:32:50","modified_gmt":"2026-07-06T15:32:50","slug":"trump-floats-australia-inspired-retirement-savings-accounts","status":"publish","type":"post","link":"https:\/\/tingchao.xyz\/?p=16621","title":{"rendered":"Trump floats Australia-inspired retirement savings accounts\u00a0"},"content":{"rendered":"\n<figure class=\"wp-block-image alignwide size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"330\" src=\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/07\/1.png\" alt=\"\" class=\"wp-image-16622\" srcset=\"https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/07\/1.png 620w, https:\/\/tingchao.xyz\/wp-content\/uploads\/2026\/07\/1-300x160.png 300w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">President Trump said Monday that his administration is working on a plan to launch accounts for adults that would mirror Australia\u2019s retirement savings system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe\u2019re going to be doing also something we\u2019re working on later on, and it\u2019ll be also, I think, very popular, and I guess the best definition is they have a plan in Australia, which people really like,\u201d Trump said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He added that the administration would be talking about it with Congress to see if it can be implemented.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThat would be more for grown-ups, as opposed to children, but it\u2019s something that\u2019s going to be great, I think, if we can get it done,\u201d he said. \u201cAnd we\u2019re going to try very hard.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Australia has a superannuation program that requires companies to contribute 12 percent of their workers\u2019 pay into a retirement plan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Trump said Monday that Australia\u2019s program has \u201creally worked out very well, incredibly well, and very respected.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The president first expressed his interest in this type of program in December while announcing the $6.25 billion donation from the Michael and Susan Dell for the Trump accounts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere\u2019s a certain Australian plan that people are liking,\u201d he said at the time. \u201cThere\u2019s a plan where, not for children necessarily, but for people, working people, and we are looking at other things different from this. I think this is very unique, but different from this, but very important.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said he was looking at it \u201cvery seriously.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaker Mike Johnson\u2019s (R-La.) has called for Republicans to act on Social Security reform if they keep control of Congress in 2027, sparking pushback and some support.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Republicans have long proposed partial privatization of Social Security as a way to reduce the burden on government coffers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lawmakers on both sides of the aisle agree the system is facing a crisis, as a Social Security trustees\u2019 report warned that beneficiaries would see their monthly checks cut by 22 percent in 2032 without reform.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, there\u2019s little agreement on how to change the program, with Republicans focused on defraying costs and Democrats more interested in raising revenue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump said Monday that his administration is working on a plan to launch accounts for adults that would mirror Australia\u2019s retirement savings system. \u201cWe\u2019re going to be doing also something we\u2019re working on later on, and it\u2019ll be also, I think, very popular, and I guess the best definition is they have a plan [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":16622,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[1926,1724,3949],"class_list":["post-16621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-said","tag-trump","tag-very"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.0 - 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