The U.S. Treasury asked major philanthropic donors to contribute to new investment accounts for children Wednesday in part of what Secretary Scott Bessent called a “50 State Challenge” to raise funds for the Trump Accounts program.

Billionaires Michael and Susan Dell pledged a historic $6.25 billion on Tuesday to provide an incentive to families to adopt new investment accounts for children.

A House Republican proposal backed by President Donald Trump would set up interest-bearing accounts with $1,000 for infants born across the U.S. It builds on the concept of baby bonds, which some cities have begun introducing as a way to reduce gaps between wealthy people and poor people.