**MAGA accounts**, officially known as *Money Accounts for Growth and Advancement* and recently rebranded as *Trump Accounts*, are a proposed federal savings program designed to help American families invest in their children's futures starting in 2026[3][4][6]. The accounts target children under 8 years old, allowing parents, relatives, nonprofits, and other entities to contribute up to $5,000 annually, with no contribution limit for certain tax-exempt entities like private foundations[1][2][3]. The government seeds each eligible child's account with an initial $1,000 if the child is a U.S. citizen born between January 1, 2025, and December 31, 2028[2][4][6]. The funds in MAGA accounts are invested exclusively in low-cost, diversified U.S. equity index funds, excluding international diversification and active management, aiming for long-term growth through the stock market[1][2][3]. Withdrawals are restricted until the beneficiary turns 18, with limited access between ages 18 and 25, and tax advantages apply if funds are used for qualified expenses like higher education, business startup costs, or a first home purchase[1][3]. Non-qualified early withdrawals incur ordinary income tax and penalties[1]. The idea originated from Senator Ted Cruz, initially branded as "Invest America," before being renamed to the Trump-friendly MAGA Account by the House GOP, reflecting a blend of pro-family values and market-based wealth-building[6]. The program is administered by financial institutions and overseen by the U.S. Treasury Department[2][3]. Though not yet law, the MAGA account proposal is part of a broader Republican tax and savings initiative expected to cost trillions over a decade, aiming to promote generational wealth accumulation and financial inclusion through early investment[3][4][6]. Analysts project that the initial $1,000 contribution could grow substantially over decades, potentiall