First Lady Melania Trump launched her Fostering the Future Accounts, a new financial resource established to empower foster youth to be fiscally autonomous upon reaching the age of majority. “Fostering the Future Accounts give foster children the same chance for asset ownership and long-term wealth building as every other American child. By investing in our foster youth now, we help strengthen America’s workforce, co...
First Lady Melania Trump launched her Fostering the Future Accounts, a new financial resource established to empower foster youth to be fiscally autonomous upon reaching the age of majority. “Fostering the Future Accounts give foster children the same chance for asset ownership and long-term wealth building as every other American child. By investing in our foster youth now, we help strengthen America’s workforce, communities, and economic future,” the First Lady explained. This historic measure is a first for the United States and is designed by the First Lady in tandem with the U.S. Department of Treasury. Already, twenty-three Governors have pledged to set up Fostering the Future Accounts for children within their states’ care. First Lady Melania Trump called for national unity to fund the accounts, “Now is the time for everyone to act. All 50 states should pledge to protect America’s foster youth. Let’s elevate America’s children above politics. I urge every Governor and business leader in America to help fund these accounts.” Because of First Lady Melania Trump’s leadership and commitment to ensuring youth in foster care have the same access as every other American child to valuable asset building opportunities, the U.S. Department of the Treasury, the U.S. Department of Health and Human Services, and the Office of Management and Budget issued Federal guidance allowing State, Territorial, and Tribal child welfare agencies to open this type of account for any child or youth in their care: The U.S. Department of the Treasury will now recognize State child welfare agencies acting as a guardian for children and youth in foster care, or their designees, as eligible individuals for the purposes of opening an initial account when a child is in foster care. The Trump Administration will provide guidance and a dedicated helpline designed specifically to assist States in setting up these accounts for children and youth in foster care. It is important to note, the One Big Beautiful Bill Act authorized the creation of this type of account. This announcement marks the latest milestone in First Lady Melania Trump’s Fostering the Future initiative; her mission to provide opportunities and improve outcomes for children, youth, and families involved in the foster care system. The following governors have pledged to open fostering the future accounts: Kay Ivey, Sarah Huckabee Sanders, Ron DeSantis, Brian Kemp, Brad Little, Mike Braun, Kim Reynolds, Jeff Landry, Tate Reeves, Mike Kehoe, Greg Gianforte, Jim Pillen, Joe Lombardo, Kelly Ayotte, Kelly Armstrong, Mike DeWine, Kevin Stitt, Henry McMaster, Larry Rhoden, Bill Lee, Greg Abbott, Spencer Cox, and Patrick Morrisey. The full remarks by First Lady Melania Trump are provided below. Empowerment Through Asset Ownership Thank you for welcoming me this afternoon, Secretary Bessent. Since the earliest days of our Republic, the Treasury has stood for America’s financial credibility and stability. This very building is a monument to our confidence in the American experiment. Today, we are adding another important layer to the Treasury Department’s foundation: economic stewardship. For the first time, children in foster care will have access to a dedicated savings and investment vehicle: Fostering the Future Accounts. Fostering the Future Accounts give foster children the same chance for asset ownership and long-term wealth building as every other American child. By investing in our foster youth now, we help strengthen America’s workforce, communities, and economic future. Ownership turns the principle of individual liberty into a substantive reality. For children in foster care, this is especially important. America can offer services, help, and protection, but real freedom means being able to make independent choices about your own future. Property ownership helps make that possible. When they turn eighteen, foster youth will be able to access the assets they own through Fostering the Future Accounts. This will give them a foundation for independence and opportunity. For Fostering the Future youth, empowerment comes through ownership. This includes ownership of knowledge through education and now ownership through savings and investment accounts. Education and savings accounts are the first steps toward personal independence. Fostering the Future accounts help create the conditions where liberty can flourish. Success is not about how many benefits a person receives, but rather about how much independence they achieve. Starting today, the Treasury will let state child welfare agencies and foster youth representatives set up Fostering the Future Accounts for children in foster care. We already have measurable results: 23 governors have pledged to set up Fostering the Future Accounts in their States—including Governor Little from Idaho who is here with us today. Thank you, Governor. Now is the time for everyone to act. All 50 states should pledge to protect America’s foster youth. Let’s elevate America’s children above politics. I urge every governor and business leader in America to help fund these accounts. Together, we can make sure foster youth enter adulthood with assets, opportunity, and a stronger path to independence. This is a historic moment for our nation. We should aspire to raise a generation of builders, creators, entrepreneurs, and leaders whose futures are shaped by their ambition, not their circumstances. A strong education and financial assets will give them tools for a lifetime.
Speech Brief