The $4 trillion tax bill released May 12 by House Republicans, which sets the stage for a Congressional battle over President Donald Trump’s key economic legislation, includes an unusual provision: the creation of a new savings vehicle dubbed “MAGA accounts” that would be seeded with $1,

House Republicans have unveiled a new proposal aimed at boosting long-term financial security for young Americans: a $1,000 federally funded savings account for children under 8. But, it's possible the earnings won't keep up with inflation,

The Republican tax bill that is being discussed today in the House Ways and Means Committee proposes a new savings account for young children that comes with $1,000 in seed money from the government.