Additional reporting by Chris 'Lefty' Land.
Poker pro Phil Hellmuth has been credited with the connection that led to a push from US Senator Ted Cruz to give every American baby $1,000 to invest.
That idea is now called 'Trump Accounts' and has been included in the 'One Big Beautiful Bill Act' — the one that reportedly caused the rift between Donald Trump and Elon Musk.
The 'One Big Beautiful Bill Act' has already passed the House, and if it becomes law, it would see every child born in America to parents with a social security number receive $1,000. Eligible babies would be those born after Dec 31, 2024, and before January 1, 2029.
The money would be invested and remain untouchable until the child turns 18, when they could access half of it for approved uses, such as a down payment on a house. Full, unfettered access to the account would be given at the age of 30.
Idea came from late-night poker game
So where does Hellmuth come into it?
As reported by The Texas Tribune, Hellmuth connected Cruz with Invest America during a "late-night card game" in April 2024. Brad Gerstner, the CEO of Invest America, then flew to meet with Cruz and pitch the idea formally.
We caught Hellmuth at the WSOP as he was telling fellow pro Daniel Negreanu about it.
"I'm bragging, Daniel, I'm bragging," Hellmuth said as Negreanu filmed him for his vlog. "I was playing poker with Ted Cruz, and I told him about my friends and the idea to give every baby born in America $1,000. We think it's going to be great for capitalism."
"Oh my god, you're getting credit!" Negreanu said.
"I get like 1% credit, I'm taking it," said Hellmuth. "Good job," replied Negreanu.
Earlier this month, Trump was quoted as saying, "This is a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation."
Using current figures, the measure will cost around $3.6 billion per year.
