Ted Cruz says he doesn't mind that his $1,000 investment account plan for babies is now called 'Trump accounts'
The original name was an acronym for "Money Account for Growth and Advancement" — the same initials as Trump's political movement. In a last-minute change before the House passed their version of the "Big Beautiful Bill" on Thursday, "MAGA" was replaced with "Trump."
While the president stands to get the credit, it was Sen. Ted Cruz's idea to create "Invest America" accounts. The Texas Republican says he doesn't mind.
"What I care is that they remain in there," Cruz told BI, referring to the provision's inclusion in the larger bill. "I think it doesn't matter what they're called. What it matters is what they do."
In terms of political branding, it's further than other recent presidents have gone. President Joe Biden, for instance, chose not to sign COVID-19 stimulus checks like Trump did — though he later said it was "stupid" not to do so.
Other government-backed programs have taken on the name of their creators. The Affordable Care Act, championed by President Barack Obama, is commonly known as "Obamacare," though that was initially a Republican epithet. And Sens. William Roth and Claiborne Pell have also found their names written into the tax code.
"That is not unusual," Cruz said. "You have things like Roth IRAs that were named after Senator Roth. You have things like Pell Grants that were named after Senator Pell. You have things like Obamacare that were named after President Obama."
It's unclear exactly why the accounts were named after Trump, and the White House did not respond to a request for comment.
Cruz had pitched the idea as a way to give kids a stake in the free market from an early age, allowing them to potentially reap financial benefits down the line while making them less likely to support socialism.
"It enables every newborn child in America to experience the enormous benefits of compounded growth, and to accumulate significant resources with the passage of time," Cruz said. "It creates a generation of new capitalists."
According to the bill, individuals with "Trump accounts" will be able to use the savings for things like higher education and first-time home purchases starting at age 18.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
11 minutes ago
- The Hill
Top Armed Services Democrat calls Trump-Putin summit ‘very disappointing'
Rep. Adam Smith (D-Wash.), the ranking Democrat on the House Armed Services Committee, said he was very disappointed by the historic summit between President Trump and Russian President Vladimir Putin in Alaska on Friday. In an interview on NewsNation's 'The Hill Sunday,' Smith criticized the U.S. president for appearing to emerge from his meeting more aligned with Putin in pushing for an end to the war in Ukraine without first agreeing to a ceasefire. 'The summit in Alaska was very disappointing,' Smith said in the interview. 'We took the demand for a ceasefire off the table in exchange for nothing.' Smith also criticized Trump's 'deference' to the Russian leader, contrasting that approach with the antagonism on display during the explosive Oval Office meeting with Ukrainian President Volodymyr Zelensky in February. 'The deference that President Trump showed to Putin—never once just stating the basic notion that Ukraine has a right to exist as a sovereign, democratic country and that the invasion was illegal, unlawful,' Smith said. 'And you contrast that with the way President Trump and Vice President Vance treated Zelensky when he was in the West Wing back in February — it sends the wrong signal if we're trying to force Putin to the table and get a negotiated end to this war,' he continued. Smith said it 'makes sense' for Trump to be trying to get Putin and Zelensky in a room together, saying, 'I applaud that effort, but you have to understand what Putin wants out of this.' 'Putin wants all of Ukraine, and he's just trying to play President Trump and buy time to get in a better position to do that,' he continued. 'That's the calculation of Putin that has to be changed.'
Newsweek
12 minutes ago
- Newsweek
Gavin Newsom's Team Unveils New Nickname for JD Vance
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. After pivoting into a Donald Trump-style of social media posting to mock the U.S. president, California Governor Gavin Newsom's team has now introduced a new nickname for Vice President J.D. Vance, "Just Dance Vance." The governor's office was commenting on Vance's recent visit to Indianapolis where Republicans are under pressure from the Trump administration to redraw the state's electoral map ahead of the 2026 midterm elections. The same move has recently been pushed by Texas Republicans in the Lone Star State, promising to give the GOP five additional seats next year. The controversial strategy is behind the recent fleeing of Texas Democrats from the state and sparked nationwide protests against a "Trump takeover" on Saturday. "NOT EVEN JD 'JUST DANCE' VANCE CAN SAVE TRUMP FROM THE DISASTROUS MAPS 'WAR' HE HAS STARTED," Newsom's office wrote on X on Saturday, mimicking Trump's habit to write in all-caps. Why It Matters The kind of trolling that Newsom is currently directing at Trump on social media is yet another step in the quickly escalating clash between the U.S. president and the California governor. Their relationship has deteriorated after Trump decided to send thousands of National Guard troops and hundreds of Marines to Los Angeles earlier this summer despite Newsom's objections. Main image, California Governor Gavin Newsom speaks about the 'Election Rigging Response Act' at a press conference at the Japanese American National Museum on August 14, 2025, in Los Angeles, California; Inset, Vice President JD... Main image, California Governor Gavin Newsom speaks about the 'Election Rigging Response Act' at a press conference at the Japanese American National Museum on August 14, 2025, in Los Angeles, California; Inset, Vice President JD Vance delivers a speech during a visit to RAF Fairford in England on August 13, 2025. More Getty Images The president justified the move as necessary to contain protests in the city against his administration's mass deportation efforts, but Newsom said it was only trying to fulfill "the deranged fantasy of a dictatorial president." The state of California has since sued the president for sending federal troops to Los Angeles without Newsom's permission. A trial was held last week and a decision in the case is looming. What To Know Giving Vance a nickname—"Just Dance Vance"—is just one of the many ways Newsom is imitating Trump's very recognizable social media posting style to mock the president. These include using derogatory nicknames for his political opponents, writing in all-caps and overtly and exaggeratedly praising himself for real or imaginary achievements. In Trump's social media world, the California governor is often referred to as "Newscum." In his mocking posts, Newsom has repeatedly referred to Trump as "tiny hands." This mockery has gone side by side with the California governor's fight against nationwide attempts to redistribute congressional boundaries ahead of the 2026 midterms—a strategy that is backed by Trump and his administration. Newsom has threatened to go ahead with his own plan to redraw California's electoral map should Texas and other Republican-led states reconfigure their state's congressional districts in their favor. The governor said that California will not redraw its electoral map if Republican-led states give up on the idea—if not, they can expect a tit-for-tat from the Golden State which would effectively neutralize their efforts. What People Are Saying Newsom's press office wrote on X: "NOT EVEN JD 'JUST DANCE' VANCE CAN SAVE TRUMP FROM THE DISASTROUS MAPS 'WAR' HE HAS STARTED. NOT EVEN HIS EYELINER LINES LOOK AS PRETTY AS CALIFORNIA 'MAP' LINES. HE WILL FAIL, AS HE ALWAYS DOES (SAD!) "AND I, THE PEACETIME GOVERNOR—OUR NATION'S FAVORITE—WILL SAVE AMERICA ONCE AGAIN. MANY ARE NOW CALLING ME GAVIN CHRISTOPHER 'COLUMBUS' NEWSOM (BECAUSE OF THE MAPS!). THANK YOU FOR YOUR ATTENTION TO THIS MATTER." Questioned by a reporter about his trolling of the president in his recent social media posts, Newsom said on Thursday: "I'm just following his example. If you have issues with what I'm putting out, you sure as hell should have concerns with what he's putting out as president." Reporter: What's going on with those posts on X that are clearly trolling the president? Newsom: I hope it's a wake up call for the president. I'm just following his example. If you have issues with what I'm putting out, you sure as hell should have concerns with what he's… — Acyn (@Acyn) August 14, 2025 White House spokeswoman Abigail Jackson said in a statement: "Imitation is the sincerest form of flattery, but Newscum's obsession is getting a little creepy at this point. Gavin will never be ready for primetime!" What Happens Next It is unclear how long Newsom and his team will continue to mock the president and his social media posting style, but the bitterness between the two is unlikely to dissipate. Newsom's time in office ends next year, and he is rumored to be contemplating a run for president.
New York Times
12 minutes ago
- New York Times
Trump and Putin Find Common Ground on One Issue: Biden
President Trump and President Vladimir V. Putin of Russia did not agree on a cease-fire to the war in Ukraine during their meeting in Alaska. But they did agree on something else: They both despise Joe Biden. During their private meeting and their public appearance in Anchorage on Friday, both leaders blamed Mr. Biden for the war in Ukraine, never mind that Mr. Putin was the one who ordered troops to invade his neighbor and keeps authorizing strikes against civilian targets. The Russian president complained that Mr. Biden did not accede to Russian demands before the full-scale invasion three and a half years ago, and he played to the current president's ego by agreeing that the war would not have happened had Mr. Trump still been in office in 2022. By Mr. Trump's account, Mr. Putin behind closed doors also endorsed the lie that Mr. Trump actually won the 2020 election, only to have it stolen by Democrats. 'I think that he respects our country now,' Mr. Trump said of Mr. Putin during a post-summit interview on Fox News. 'He didn't respect it under Biden, I can tell you that. He had no respect for it. I was so happy when he said this would have never happened. This — all those lives would be saved if they had a competent — if we had a competent president.' It was unorthodox, to say the least, to see a sitting American president join a foreign dictator accused of war crimes onstage in Anchorage to bash a former American president. But it underscored that Mr. Trump, with his increasingly authoritarian tendencies, in some ways finds more common ground with the repressive leader of Russia than he does with his own country's leaders. Want all of The Times? Subscribe.
