{"id":1263,"date":"2026-06-12T11:38:17","date_gmt":"2026-06-12T11:38:17","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=1263"},"modified":"2026-06-12T11:38:17","modified_gmt":"2026-06-12T11:38:17","slug":"melania-launches-trump-accounts-for-foster-kids-and-democratic-governors-want-no-part-of-it","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=1263","title":{"rendered":"Melania launches Trump Accounts for foster kids \u2014\u00a0and Democratic governors want no part of it"},"content":{"rendered":"
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Building on her\u00a0work helping foster children, Trump said the new federal guidance will give child welfare agencies the ability to act as a guardian for children in foster care for the purposes of opening an account.<\/p>\n

Read more Trump turned environmentalist to slap new tariffs on Brazil, so why are deforestation rates down?<\/a><\/p>\n

The first lady, speaking at a news conference at the Treasury Department, said the move \u201cgives foster children the same chance at asset ownership and long-term wealth as every other child.\u201d<\/p>\n

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The accounts will be open for contributions on July 4. To qualify for an account, a child must also be a U.S. citizen born between Jan. 1, 2025, and Dec. 31, 2028.<\/p>\n

The White House Council of Economic Advisers estimates that a Trump Account balance for a baby born in 2026 will be $5,800 by age 18 and $18,100 by age 28 if no other contributions are made.<\/p>\n

The first lady said 23 governors, all Republicans, have pledged to allow state agencies to begin the process of enrolling children in the program. \u201cI urge every governor and business leader to help fund these accounts,\u201d she said.<\/p>\n

Read more Why is the FDA approving kid-friendly, fruit-flavored e-cigarettes?<\/a><\/p>\n

There are roughly 330,000 children in the U.S. foster care system, according to the National Council for Adoption. One in 5 of them is at risk of homelessness after aging out of foster care, and only half gain employment by the time they are 24, the National Foster Youth Institute says.<\/p>\n

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\u201cThose outcomes are unsettling, but we refuse to accept them as inevitable,\u201d Bessent told the news conference. \u201cWe are affirming that the American dream belongs to every child.\u201d<\/p>\n

A provision of President Donald Trump\u2019s\u00a0tax and spending legislation\u00a0that he signed into law last summer created Trump Accounts. Under them, the Treasury Department gives $1,000 to babies so long as their parents open an account. That money is then invested in the stock market by private firms, and the children can access the money when they turn 18.<\/p>\n

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Employers and billionaires across the country have pledged to make matching Trump Account contributions for employee benefits. Among them are Michael and Susan Dell, who\u00a0announced a $6.25 billion donation, and hedge fund founder Ray Dalio and his wife, Barbara, who\u00a0pledged $75 million\u00a0for kids under 10 in Connecticut, where the Dalios live.<\/p>\n

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The first lady said the move \u201cgives foster children the same chance at asset ownership and long-term wealth as every other child.\u201d<\/p>\n","protected":false},"author":1,"featured_media":1262,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[79],"tags":[],"class_list":["post-1263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-white-house"],"yoast_head":"\nMelania launches Trump Accounts for foster kids \u2014\u00a0and Democratic governors want no part of it - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=1263\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Melania launches Trump Accounts for foster kids \u2014\u00a0and Democratic governors want no part of it - 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