Source item

Quoted context

These are the quoted author’s words.

The “New Little Texan Savings Fund” I love President @realDonaldTrump’s idea to invest $1,000 for every American newborn child, that cannot be spent until age 18 and must be used for education or other qualifying expenses. President Trump’s plan also allows family members to contribute more to his new baby savings program. I applaud Texans @MichaelDell and Susan Dell for giving President Trump $6.25 billion to help fund the program. If I see a great idea from the President that helps Texans, my first question is always, “why not do it in Texas, too?” A baby is born about every 90 seconds in Texas. That’s about 1,000 per day, or just under 400,000 per year for the last several years. One of my top priorities in the 2027 legislative session will be to pass the “New Little Texan Savings Fund” to give newborn Texans an additional $1,000 each, invested in the S&P 500 as aligned with the federal program. Adding that to the President’s program, newborn Texans will receive a total of $2,000, plus any additional funds contributed by their family as allowed under the Trump plan. This new initiative will cost our budget about $400 million per year. That is about 1% or less of our total state appropriations. We will amend the state constitution to add this as a permanent program. This is a great way to return money back to families and to teach the value of savings and compound interest to young Texans. #txlege https://t.co/ILUNgbyrn3

DanPatrick ↗