The Trump administration’s One, Big, Beautiful Bill contains a provision to create a savings account called by its MAGA acronym. The plan is to create and fund an investment account with $1,000 for every U.S. citizen born beginning in 2025. It has a long way to go, but this sort of savings account has been a politically popular idea historically.

Days before Republicans unveiled their sweeping tax cut plan, the chairman of the powerful Ways and Means Committee had one last person to consult. He went to the White House, where he and President Donald Trump went over the legislation “line by line.