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Investing.com -- As concerns about declining birth rates grow louder, President Trump’s administration is exploring a $5,000 "baby bonus" proposal—an idea reportedly bearing the imprint of Elon Musk, The New York Times (NYSE:NYT) reported.
This is just one idea the Trump administration is considering to boost America’s declining birthrate, the report stated.
Another proposal would reserve 30% of Fulbright scholarships for applicants who are married or have children. While a third would urge government funding for programs that teach women about their menstrual cycles, including how to track ovulation for conception.
Musk, a proud father of at least 14 children, has long preached that the world faces a looming threat from declining population rates.
The billionaire is not the only pro-family member of Trump’s inner circle. Vice President JD Vance has three children and is also staunchly pro-family.
Policy experts and advocates aiming to increase the United States’ birthrate have been engaging with White House aides, presenting written proposals designed to encourage women to have more children, the Time article added, citing four people who have been part of the meetings.
Advocates are optimistic that these issues will gain traction within the current administration’s agenda.
Simone Collins, an activist in the movement, believes that the Trump administration has a fundamental inclination towards pro-natalism. She, along with her husband Malcolm Collins, has submitted several draft executive orders to the White House. One of these includes the creation of a "National Medal of Motherhood" to be awarded to mothers with six or more children.
The ongoing private conversations about family policy indicate that President Trump may be developing a comprehensive plan to promote larger families.
While no formal plan has been announced, the development could be seen as a positive for baby formula makers, including Abbott Laboratories (NYSE:ABT), Reckitt Benckiser Group PLC (LON:RKT), Nestle SA (SIX:NESN), and Perrigo Company PLC (NYSE:PRGO).