Overview

• House Republicans have included MAGA Accounts, $1,000 government-seeded investment accounts for U.S.-born children, in their $4 trillion tax legislation.
• The Ways and Means Committee advanced the bill, finalizing phased withdrawal rules that restrict access until age 18, with full access by age 30.
• The program is projected to cost $17 billion over 10 years and allows families to contribute up to $5,000 annually to the accounts.
• Proponents, including Sen. Ted Cruz and President Trump, argue the accounts will foster long-term wealth accumulation and economic participation.
• Critics, including some pro-family conservatives, favor enhanced child tax credits or direct baby bonuses, citing the accounts' lack of immediate benefits for families.