Pro-family conservatives upset over being upstaged by new 'MAGA accounts'

Some pro-family advocates are disappointed that the Republican tax bill included new “MAGA” savings accounts instead of additional improvements to the child tax credit.

The MAGA accounts, short for “money accounts for growth and advancement,” are a form of savings account for children that were included in the tax legislation advanced by House Republicans on the Ways and Means Committee this week, to the surprise of many in the party and outside analysts. And after years of pushing for a turbocharged child tax credit, some family advocates think that creating savings accounts that cannot be accessed for years does little to help struggling families.