Megabill’s Baby Bonus Is Civilizational Strategy for Some, Questionable for Others

WASHINGTON—Parts of the One Big Beautiful Bill Act are being seen as encouraging people to have children at a time of falling fertility in the United States. The version that passed the House in May raises the child tax credit from $2,000 to a maximum of $2,500 per child, while a draft from the Senate’s Finance Committee sets that new ceiling at $2,200. Both versions of the megabill include a tax credit for paid family and medical leave. One eye-catching proposal is the “Trump account,” a savings vehicle tied to a stock index. Newborn American citizens whose parents both have Social Security numbers would start life with a one-time deposit of $1,000 from the government. Parents or legal guardians can contribute more to the account until the beneficiary turns 18....