Melania Trump announces creation of saving, investment accounts for foster children

First lady Melania Trump announced Thursday the creation of investment and saving accounts for foster children that will operate alongside her husband's "Trump accounts" for children in traditional homes.

The “Fostering the Future” accounts are the latest actions the first lady has taken in the past year to support foster children. She has also helped create a new digital platform that connects youth who are aging out of foster care with critical resources like education and housing.

The new accounts will use a special designation under the "Trump accounts," which sees the Treasury Department make a one-time $1,000 investment into funds for babies born between Jan. 1, 2025, and Dec. 31, 2028. The recipients receive access to those funds when they turn 18.

"Fostering the Future Accounts give foster children the same chance for asset ownership and long-term wealth building as every other American child," Trump said in a speech at the Treasury Department. "By investing in our foster youth now, we help strengthen America’s workforce, communities, and economic future."

The first lady said she has already received commitments from 23 governors to set up "Fostering the Future" accounts for children within their states’ care, including Florida Gov. Ron DeSantis and Alabama Gov. Kay Ivey.

“Now is the time for everyone to act," she said. "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.”

The program was created under the "One Big Beautiful Bill," and will launch in July.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.