CHATTANOOGA, Tenn. (WDEF) – Federal leaders and major philanthropists are outlining a nationwide effort to create a government-backed account for children at birth.

The announcement included confirmation from Michael and Susan Dell of a $6.25 billion donation to support the initiative.

According to federal representatives, the Treasury Department will administer the program.

They say approximately 60 million accounts are expected to be created next year.

Parents will not be required to set up the accounts themselves; instead, the accounts will be automatically generated, and families will have the option to claim them.

Officials explained that families will be able to claim the accounts using an Android phone, a public library computer, or other available access points.

Treasury repr

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