$1K MAGA Child Accounts Proposed in GOP’s Budget Bill

A draft of Congress’ reconciliation bill includes a proposed retirement fund for kids.

The “money account for growth and advancement” or “MAGA account” is the brainchild of Sen. Ted Cruz, R-Texas.

Initially called “Invest America,” the initiative was rebranded on its way to the House Ways and Means committee. Cruz spent months in discussions with House Speaker Mike Johnson, R-La., committee Chair Jason Smith, R-Mo., and the White House.