Trump Accounts? Republicans Have Had Better Ideas
The Republican tax bill contains flashy goodies for families with kids. The flashiest: savings accounts for children — branded Trump Accounts — created and initially funded by the Treasury Department. These will consist of $1,000 in invested assets for each American citizen born through 2028, plus whatever funds parents later add.
So if you want to have a baby, hurry up! The seeding of the accounts (previously called MAGA Accounts) expires at the end of President Donald Trump's term. The president has made his goal clear: 'I want a baby boom.' House Republicans also proposed expanding the Child Tax Credit from $2,000 to $2,500; that would also expire in four years.
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