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.
Speaking at the Treasury Department on Thursday, Melania Trump said the program is aimed at giving foster youth the same financial opportunities as other children.
"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.
