Trump’s ‘Big, Beautiful Bill’ proposal offers ‘MAGA accounts’ with $1K for newborns

A draft of President Trump’s “Big, Beautiful Bill” includes a proposal to establish so-called “MAGA” savings accounts for children. The pilot program — described as the “money account for growth and advancement” or “MAGA account” in the GOP bill released on Monday — would give every baby with a Social Security number born in the next few years $1,000. That money will then accumulate interest and value through investments over time — and families and employees can contribute up to $5,000 in the children’ s accounts annually. The goal would be that once the kids become adults they will have...