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3mo ago

House GOP Advances Trump-Branded MAGA Accounts in Sweeping Tax Bill

The $1,000 investment pilot program for U.S.-born children is included in the draft 'One, Big, Beautiful Bill,' now under committee review with a Memorial Day deadline for passage.

File photo: a young girl wears a "Make America Great Again" hat.
MAGA hats sit on a table during the election night watch party for Republican presidential nominee Donald Trump at the Palm Beach County Convention Center on November 05, 2024, in West Palm Beach, Florida.
U.S. President Donald Trump speaks during a press conference in the Roosevelt Room of the White House on May 12, 2025, in Washington, DC.
FILE PHOTO: U.S. President Donald Trump makes an announcement about a trade deal with the U.K., in the Oval Office at the White House in Washington, D.C., U.S., May 8, 2025. REUTERS/Leah Millis/File Photo

Overview

  • The MAGA Accounts Contribution Pilot Program proposes $1,000 investment accounts for children born between 2025 and 2028, requiring U.S. citizenship and a Social Security number.
  • Funds in MAGA accounts would grow through private market investments, with families, friends, and employers allowed to contribute up to $5,000 annually.
  • The program, spearheaded by Sen. Ted Cruz and rebranded to align with President Trump, aims to foster early financial investment and participation in the free market.
  • Projected to cost at least $3.6 billion annually, the program is part of a larger $5 trillion tax package that includes cuts to Medicaid and other federal programs.
  • The proposal differs from Democratic 'baby bonds' by emphasizing private market investments rather than government-managed accounts.