The American Prosperity Card Act is a short bill that does three simple things:

1. Gives every adult American a free, Treasury-backed debit card
   • Your money earns the full Treasury yield (currently ~4.5 %) with no bank middleman utilizing the TreasuryDirect model
   • No overdraft fees, no ATM fees, no monthly fees — ever
2. Caps swipe fees at the rate Walmart already gets (0.5 % + 21 ¢)
   • The excess ($160–180 billion a year) plus reclaimed bank spreads ($55–65 billion) goes into a locked fund
   • That fund pays for bigger Child Tax Credits, EITC, and retiring debt we already owe
3. Makes citizens the first owners of new Treasury debt backed by the ‘full faith and credit of the United States’
   • New debt is offered to Americans first
   • Foreign and corporate buyers only get what we don’t want
   • Over time the entire debt becomes ours — and so does all the interest

How it works in practice

• You open the card (or it comes with your tax refund).
• Your paycheck goes in.
• The money buys short-term Treasuries in your name.
• You earn the full interest every month.
• You spend with the card exactly like today.

Key protections built in

• Not a CBDC — explicit ban, $50,000 lawsuit if anyone tries
• Banks stay private — they can service accounts for a capped 0.1 % fee or lose the deposits
• No future Congress can raid the fund without a recorded 2/3 vote
• Your data can never be used for surveillance or social scoring

Bottom Line

No new taxes or new spending. No revolution required.

We just stop letting banks and foreign governments collect the interest on the debt our taxes already pay. Instead, the interest comes to us. That’s it. The bill is 17 pages.
The idea is one sentence: The debt is now OUR asset.
The interest should be ours, too.

Read my full proposed bill here:

This is the fix we’ve been waiting for. It’s already legal. It’s already possible. All that’s missing is the will to do it. Let’s change that.