Ted Cruz: “Starting July 4th of this year, every child in America will…”

“Now, your critics will never acknowledge it, but transformational opportunities for millions of low income and underprivileged kids, that changes the entire face of the country. And then there are the Trump accounts. How do those work? Well, Starting July 4th of this year, every child in America will have a personal investment account open for them. Newborn children will have them seeded with $1,000. Parents, family, employers can all put up to 5,000 a year in a tax advantage account.” (18:34–18:41)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.