Posted on 06/14/2026 6:56:38 PM PDT by simpson96
First Lady Melania Trump and Treasury Secretary Scott Bessent on Thursday announced the launch of Fostering the Future Accounts, a new expansion of Trump Accounts designed to help children in foster care build long-term savings and wealth.
The initiative allows state child welfare agencies to act as legal guardians for the purpose of opening government-backed savings and investment accounts for foster children, removing a major barrier that previously limited access.(snip)
"Fostering the Future Accounts give foster children the same chance for asset ownership and long-term wealth building as every other American child," she said.
She also emphasized the broader goal of independence.
"America can offer services, help, and protection, but real freedom means being able to make independent choices about your own future," Trump said.
Trump said the Treasury will immediately allow state child welfare agencies and foster youth representatives to begin setting up accounts for eligible children in foster care.
She said 23 governors have already pledged support and urged all 50 states to participate.
"I urge every governor and business leader in America to help fund these accounts," Trump said. "Together, we can make sure foster youth enter adulthood with assets, opportunity, and a stronger path to independence."(snip)
The program gives eligible children a $1,000 government-funded investment account that families, employers and outside donors can contribute to over time. Annual contributions can reach $5,000, with funds invested mainly in low-cost U.S. stock index funds and ETFs.
Trump Accounts are scheduled to begin funding around July 4 for eligible U.S. citizen children born between Jan. 1, 2025, and Dec. 31, 2028.
Bessent previously described Trump Accounts as "the most important government benefit for young people since the GI Bill," underscoring the administration's long-term focus on asset ownership and wealth creation for younger Americans.
(Excerpt) Read more at yahoo.com ...
Our parents used to give us piggy banks to teach us to save. I can remember my savings account at the bank.
Excellent idea.
Have the Libtards started attacking this?
“Have the Libtards started attacking this?”
Watch them demand that Elon Musk personally provide all the funding.
That’s a good idea, one too often overlooked when it comes to foster children aging out of the care system.
Nice to see the First Lady. I had not seen her in several weeks.
Foster kids should see the military as an option. They’ll have a sense of belonging they don’t get in foster homes. It’s hard to picture them starting a family with no stable family background. It may sound Hitler Youth Corp-ish but too often they’re lost once they turn 18 and the system turns them loose. Those Trump accounts might be just the thing to get them thinking about the future in a positive way.
God Bless her but I do wish government would slow down on all these programs and projects that eat up more of OUR money and open the door to fraud and abuse.
“ Nice to see the First Lady. I had not seen her in several weeks.”
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I’m watching the White House UFC fights now. Melania and the President are sitting in “cage side” seats. She looks great and seems very happy.
I had the same. I din’t have a head start. Had to work to earn the money to go to college and pay for anything I needed.
I am hoping this is the camels nose under the tent to dismantal SS and replace with Private run IRAs where your SS tax money ends up versus the fedzilla piggy bank(I can dream)
LOVE this. FLOTUS was invested in foster youth and scholarships even during her time away from the White House.
I smell a Learing Center opportunity!
Trump just keeps proposing new entitlements after Obama and Biden already broke the bank.
30 shares of Elon’s new stock?
She remains staunch and lovely
Obama was always self serving...."vote for me"...
A GOOD IDEA-—BUT “STATE” ORGANIZATIONS HAVE PROVEN TO BE UNABLE TO PREVENT FRAUD.
STRUCTURE IT DIFFERENTLY.
CANNOT KEEP THE CRIMINALS IN CHARGE....
“The initiative allows state child welfare agencies...”
First flaw in the plan. Among many. I like the idea; we have a Foster Son, though he’s heading towards 50 - but keeping the BLOAT, FRAUD, WASTE and ABUSE out of this won’t be any different than any other of Mother Government’s pet projects...introduced from EITHER side of the aisle. Grrrr!
How EASILY our politicians FORGET that they were put there to stand between, ‘We The People’ and an all-consuming, corrupt, tax-crazy Government? Aarrgghhh!
We are so far down the rabbit hole...
Horrible idea...The federal government being involved in charity with other people’s money.
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