Newborn Investment Accounts Proposed in Federal Legislation

A new federal proposal aims to provide every newborn American child with a tax-deferred investment account seeded with a $1,000 government contribution. The initiative, part of a broader legislative package, is designed to promote long-term financial security and early market participation.

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Pope Leo XIV: A Historic Papacy Begins with a Message of Unity and Humility

In a landmark moment for the Roman Catholic Church, Cardinal Robert Francis Prevost of Chicago was elected as Pope Leo XIV on May 8, 2025, becoming the first American to ascend to the papacy. His election, announced by the traditional white smoke from the Sistine Chapel, marks a significant chapter in the Church’s history.

Born in Chicago and deeply connected to Peru through his missionary work, Pope Leo XIV brings a rich blend of cultural experiences to the papacy. His pastoral journey includes serving as Bishop of Chiclayo and leading the Dicastery for Bishops. His election was met with widespread acclaim, with many highlighting his commitment to social justice and inclusivity.

On May 9, Pope Leo XIV celebrated his first Mass as the 267th pontiff in the Sistine Chapel, joined by over 130 cardinals. In his homily, he emphasized the importance of faith, stating that without it, “life lacks meaning.” He called upon the Church to act as a “beacon that illuminates the dark nights of this world,” urging clergy to “make oneself small” to glorify Christ.

Pope Leo XIV’s choice of name pays homage to Pope Leo XIII, known for his advocacy of workers’ rights. This nod reflects the new pope’s dedication to social justice and his desire to continue the progressive trajectory initiated by his predecessor, Pope Francis.

International leaders have extended their congratulations, with King Charles III sending a private message emphasizing mutual wishes for a successful pontificate. The global Catholic community looks forward to Pope Leo XIV’s leadership, anticipating a papacy grounded in humility, compassion, and a renewed commitment to the Church’s mission.

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