Trump Advisor Submits U.S. Sovereign Wealth Fund Plan, White House Objects to Some Content

Senior advisors to President Trump have submitted a plan to him aimed at creating a government-operated investment fund, a request made by Trump earlier this year—but the White House has raised objections to parts of the proposal.
President Trump asked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to jointly develop a proposal for a U.S. sovereign wealth fund, with the goal of submitting it by early May.
According to multiple sources, the proposal has been submitted. However, the White House has expressed concerns about the approach taken by the Treasury Department, one source revealed.
The operational mechanism of the fund is still under discussion, and no announced plans have been made yet, another source stated.
A White House spokesperson said in a statement: "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 added, "The administration remains committed to using all available tools to execute President Trump's directives to ensure the national and economic security of the United States." (CBS News)