Sen. Ted Cruz (R-Texas) has suggested that the new Trump accounts, the 401(k)s for babies) launched this year could be used as a way to push forward the Social Security privatization effort that failed during the Bush administration. The accounts, part of a broader effort by lawmakers, investors, and philanthropists to increase Americans' stock market participation in the stock market. Cruz suggested that children who receive these accounts would likely be amassing so much money that their parents would want their own accounts and be open to diverting payroll taxes into one. The idea that these new accounts could replace or augment Social Security has been discussed with lawmakers but has not been publicly acknowledged. However, the White House has pledged not to touch Social Security.