Understanding the Trump Baby Savings Account Proposal

What is the main feature of the Trump baby savings account proposal?

• A tax-deferred investment account for babies

• A monthly stipend for families

• A college scholarship for every child

• A $1,000 check given to parents

At what age can beneficiaries access up to 50% of their Trump baby savings account?

• At age 16

• At age 18

• At age 21

• At age 25

What is one of the behavioral goals of the Trump baby savings account proposal?

• To encourage immediate spending

• To promote long-term financial planning

• To provide instant financial relief

• To discourage saving for education

Which of the following is a requirement for a family to qualify for the Trump baby savings account?

• The family must have multiple children

• The baby must be a US citizen

• The baby must be born in a specific state

• The family must earn below a certain income

What is one of the criticisms of the Trump baby savings account compared to other savings plans?

• It requires extensive paperwork

• It offers more tax advantages

• It has limited flexibility

• It is only available to wealthy families