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Ted Cruz: “There are now trillions of dollars in 401k plans.”

Featuring: Ted Cruz, Republican | U.S. Senate, Texas

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President Trump Makes Announcement on Federal Savings Accounts for Children

Published | Video Starts at 24:06

When Congress passed section 401k of the ERISA, I don't know that anyone realized how much it would change retirement plans. There's There are now trillions of dollars in 401k plans. They're going to be trillions of dollars in these. These are 401ks for kids. And Mr. President, these Trump accounts exist because you signed them. Thank you for your leadership. (24:06–24:11)

CLAIM

Asserts that trillions of dollars are currently held in 401k plans.

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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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