All posts tagged "Maga Accounts"

Some conservatives took to social media to denounce the "MAGA accounts for kids" idea outlined in the draft House spending bill that would give $1,000 investment seed money to children.

Semafor reported that the original idea belonged to Sen. Ted Cruz (R-TX), who claimed MAGA savings accounts for "every child born in America" would "help them begin the journey of savings and benefit from the wonders of compound interest."

One user wrote on X, "As a conservative Christian from Texas, I think this is ridiculous. Stop handing out money. Get back to the basics of running our country. If you want kids to learn about finance, teach it in school," while another wrote, "Why does everything have to include a hand out to some, but not all? How about no handouts and instead we focus on no national debt and a balanced budget???" ...

The House of Representatives revealed the first draft of President Donald Trump's "big, beautiful bill" on Monday, and it includes seed money to be posted to "MAGA accounts" for children.

Semafor's Burgess Everett posted to X, "The Big Beautiful Bill establishes 'MAGA accounts' for kids -- idea of Sen. Cruz we reported on last week. Includes pilot program to start the accounts with $1,000."

The Semafor report quoted Cruz as saying, "The case I made to my colleagues is: We should ask ourselves in this bill, what will be the legacy that people will remember and talk about 10 years from now, 20, 30, 40 years from now?"
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