The GOP tax bill includes Republican packaging of what is more often a Democrat's proposal – money for every baby in the country. Why it matters: The $4 trillion tax legislation would seed $1,000 for every American baby born over the next few years,

The Republican tax bill that is being discussed today in the House Ways and Means Committee proposes a new savings account for young children that comes with $1,000 in seed money from the government.

So-called MAGA accounts would do little to provide immediate financial relief to families and could worsen wealth inequality, researchers and family advocates said. They favored enhancing the child tax credit.