Overview

• The draft GOP tax bill includes a pilot program to create 'MAGA Accounts,' providing $1,000 investment seed money for qualifying newborns between 2025 and 2028.
• Senator Ted Cruz, who originally proposed the idea as 'Invest America,' envisions the program as a way to foster savings and private market investment for future generations.
• The accounts allow funds to grow through private equity investments, contrasting with Democratic 'baby bonds' proposals that focus on government-managed savings accounts.
• Major companies like Uber, Dell, Nvidia, and Oracle have expressed interest in contributing to employees' children's accounts, likening the initiative to a 401(k) for kids.
• The proposal has sparked debate, with some conservatives criticizing it as wasteful and Senate Minority Leader Dick Durbin acknowledging it as a rare GOP effort to support working families.