Abby McCloskey, Guest Columnist

Trump Accounts? Republicans Have Had Better Ideas

Investment accounts for babies aren’t likely to grow families. For that we need a stable, predictable, growing economy — plus better child care and paid leave policies.

May 27, 2025 at 10:00 AM UTC

By Abby McCloskey

Abby McCloskey is a columnist, podcast host, and consultant. She directed domestic policy on two presidential campaigns and was director of economic policy at the American Enterprise Institute.

Here’s looking at you, kid.
Photographer: Andrew Burton/Getty Images

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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.