IRS Chief Donates to Trump Accounts

Dow Jones10-30

The executive running the government's Trump Accounts child investment program is kicking in some of his own money.

Frank Bisignano, the CEO of the Internal Revenue Service, donated $250 to every child ages 2 through 8 in the Brooklyn, N.Y., zip code (11234) where he grew up, the agency said Thursday. That is likely a total gift of more than $1.8 million, according to census data.

"This donation is an investment in the children of Brooklyn, giving them a boost in their personal wealth building journeys," Bisignano said in a statement.

Bisignano, a longtime JPMorgan Chase executive, led payments company Fiserv before joining the government. He is also the commissioner of the Social Security Administration. The administration has been encouraging wealthy people to give money to Trump Accounts. Billionaires Elon Musk, Michael Dell and Ray Dalio have all announced or made donations.

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