Trump Advisor Has Submitted U.S. Sovereign Wealth Fund Plan, White House Raises Objections to Parts of It

BlockBeats News, May 8th, according to CBS News, President Trump's senior advisors have submitted a plan to him aimed at creating a government-operated investment fund, which was a request made by Trump earlier this year—but the White House has raised objections to parts of the proposal.

President Trump tasked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to collaborate on the proposal for an American sovereign wealth fund, with the goal of submitting it in early May.

Multiple sources indicate that the proposal has been submitted. However, the White House has expressed concerns about aspects of the Treasury Department's proposal, one source revealed.

The operational details of the fund are still under discussion, with no announced plans at this time, another source stated.

A White House spokesperson stated in a release: "In accordance with President Trump's executive order, the Treasury and Commerce Departments have developed a plan for a sovereign wealth fund, but no final decision has been made." He further added: "The government remains committed to utilizing all available tools to carry out President Trump's directives to ensure America's national and economic security."