At this juncture, the “One Big Beautiful Bill” budget proposal supported by the current Administration is in limbo. Following an original Trump Administration proposal, the House of Representatives dissected and reassembled various provisions, winding up with a version that passed a House vote by the slimmest of margins — 1 vote. From there, the Bill was delivered to the Senate, where it is currently undergoing increased scrutiny.

Major points of dispute fall in the arena of Tax Policy, including changes to the Individual Income Tax Form 1040. Particularly contentious is the deduction for State and Local Taxes, or SALT, which was limited for the first time in the Tax Cuts and Jobs Act of 2017, or TCJA. From the current TCJA $10,000 limit, the House version raised the SALT Deduction to $40,000, but many Senators are unhappy with that change. A compromise is imminent.

While SALT is sucking oxygen from the negotiations and media broadcasts, one interesting proposal is gaining quite a bit of bipartisan support. Originally dubbed “Money Accounts for Growth and Advancement” (MAGA), the House version substituted the moniker “Trump Savings Accounts.” This provision would apply to births in the USA during calendar years 2025 through 2028.

Every child born in that window would receive a one-time $1,000 payment, placed into an untouchable account until at least age 18. While invested in the S&P500 Index Fund (SPY), these accounts should grow substantially over the children’s developing years. This proposal may sound like a good idea, as Trump Account funds could be used for education, buying a home, or saving for retirement. Unfortunately, funding newborns with taxpayer dollars is distasteful to taxpayers.

Also, last week, I reported on a proposal within Congress to grant access to a 401(k)-style account to workers not covered at their place of employment. On its surface, that proposal seemed unique and interesting. Then I read the second paragraph, where voluntary employee deposits are matched, not by employers, but by taxpayers! As a taxpayer, I do not choose to be forced into matching contributions to other Americans’ retirement benefits. Sorry, not sorry.

Workers without a 401(k) Plan have available options. Whether Traditional or Roth IRAs, they allow us to fund our own retirements.

I do not care to become a Sugar Daddy for every child born in this country, legal and otherwise. Nor do I care to supplement retirement accounts for people I don’t even know.

The sad truth is that our government is caught in an overspending debt spiral. There is a difference between proposals that sound good and good, sound proposals.