Treasury Secretary Scott Bessent on Wednesday likened the Trump accounts created by Republicans’ massive new domestic policy law to “a backdoor for privatizing Social Security.” Democrats are already launching political attacks.

Trump accounts, Treasury Secretary Scott Bessent said, would make “everyone a shareholder” in the success of the economy.

Treasury Secretary Scott Bessent's recent comments about using Trump Accounts as a backdoor for privatizing Social Security have reignited debates over the idea. Here’s what it could mean for you.