Sen. Ted Cruz Wants To Give Americans $1,000 At Birth To Invest, Bill Ackman Says He’s ‘Been A Fan Of This Idea For Years’

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Under the bill, each account would track a low-cost S&P 500 index fund. Relatives could add up to $5,000 a year, and the balance could be tapped at 18 for college, a first home or a business launch. Cruz’s office estimates the nest egg could hit roughly $170,000 by adulthood, assuming a 7 percent annual return.

What To Know: Backers frame the idea as program that would broaden stock ownership and “cultivate a generation of capitalists,” in Cruz’s words.

Critics, as per a report by the Houston Chronicle, counter that seeding every baby — about 3.6 million births a year — could cost billions and lacks income caps, raising deficit alarms. House Republicans rebranded the accounts “MAGA Savings” in their draft, reflecting former President Donald Trump‘s push to add pro-growth sweeteners to a broader 2017 tax-cut extension.

Even with Ackman’s Wall Street clout behind it, the measure faces a steep climb in a divided Congress. But the financier’s endorsement echoes a rare bipartisan appeal of giving every American a personal stake in the market from day one.

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