Great Big Beautiful Bill paying Dividends.
In case you missed it, every American citizen who has a child the next four years will get $1,000 dollars put into a savings account that can’t be touched till the child turns 18. Also Mr. Dell and his wife have added $6.25 billon to the fund. Parents can add to it yearly up to $5,000.
So, if the family is poor and doesn’t add anything, the child has $18,000 if the fund paid no dividends. Yet I see where a group of losers are claiming that this is a savings account for the rich.
Under that law, the Treasury Department will give $1,000 to the accounts for children born between Jan. 1, 2025, and Dec. 31, 2028. Those accounts become the property of a child’s guardian and “will track a stock index and allow for additional private contributions of up to $5,000 per year,” according to the White House.
The more than $6 billion in funds from the Dells will go to “most children age 10 and under who were born prior to the qualifying date for the federal newborn contribution,” though Tuesday’s announcement adds that some children older than 10 may also be eligible if there is funding left over after the initial sign-ups.
