A proposed investment account for American children in the massive spending and tax bill proposed by House Republicans would do little to meaningfully reduce the financial pressures that parents face today,

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,

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.