When Congress passed Trump’s tax and spending bill this year, it included a provision that would create investment accounts for recently born children. Now, at least two billionaires want to chip in to the programme as well. The FT’s Brooke Masters and Alex Rogers detail how this plan works, and why some Republicans are going all in on a government entitlement programme.

Correction: This podcast was updated from its original version. The original podcast mischaracterized Australia's superannuation programme. We said individual participation is mandatory and the government puts money into accounts. In fact, employers are required to participate, and the government organizes it. That portion of the conversation has been removed.

Mentioned in this podcast:

Check out FT Globetrotter’s Washington D.C. travel guide

Michael and Susan Dell pledge $6.25bn to help fund ‘Trump Accounts’ for children

Republicans propose $1,000 ‘Trump account’ for American babies

Email Marc with your questions (Marc.Filippino@FT.com)

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Swamp Notes is produced by Henry Larson. This week’s show was mixed by Sam Giovinco. We had help this week from Lauren Fedor. The FT’s acting co head of audio is Topher Forhecz. Special thanks to Pierre Nicholson.

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CREDIT: Roll Call

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