First Lady Melania Trump has introduced Fostering the Future Accounts, a new financial initiative aimed at empowering foster youth to achieve financial independence when they reach adulthood.
“Fostering the Future Accounts provide foster children with equal opportunities for asset ownership and long-term wealth building, just like any other American child. By investing in our foster youth today, we are helping to strengthen America’s workforce, communities, and economic future,” the First Lady stated.
This groundbreaking initiative, a first in the United States, was developed by the First Lady in collaboration with the U.S. Department of the Treasury. So far, twenty-three governors have committed to establishing Fostering the Future Accounts for children in their states’ care.
First Lady Melania Trump emphasized national collaboration to support the accounts, declaring, “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.”
Thanks to First Lady Melania Trump’s leadership and dedication to ensuring that youth in foster care have the same opportunities for asset building as other American children, the U.S. Department of the Treasury, the U.S. Department of Health and Human Services, and the Office of Management and Budget have issued federal guidance. This allows state, territorial, and tribal child welfare agencies to open these accounts for any child or youth in their care:
- The U.S. Department of the Treasury will now recognize state child welfare agencies serving as guardians for foster children and youth, or their appointees, as eligible to open an initial account when a child is in foster care.
- The Trump Administration will offer guidance and a dedicated helpline specifically to assist states in setting up these accounts for foster children and youth.
The One Big Beautiful Bill Act authorized the establishment of this type of account. This announcement is the latest milestone in First Lady Melania Trump’s Fostering the Future initiative, which aims to create opportunities and improve outcomes for children, youth, and families in the foster care system.
The following governors have committed to opening 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 been a symbol of America’s financial credibility and stability. This building stands as a testament to our belief in the American experiment. Today, we add another crucial 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 provide foster children with the same opportunities for asset ownership and long-term wealth building as any other American child. By investing in our foster youth today, we contribute to the strengthening of America’s workforce, communities, and economic future.
Ownership turns the concept of individual liberty into a tangible reality. For children in foster care, this is particularly significant. While America can offer services, help, and protection, true freedom means the ability to make independent choices about one’s own future. Property ownership makes this possible.
Upon reaching the age of eighteen, foster youth will be able to access the assets they own through Fostering the Future Accounts, providing them with a foundation for independence and opportunity.
For Fostering the Future youth, empowerment is realized through ownership, encompassing both knowledge through education and assets through savings and investment accounts. Education and savings accounts are the initial steps toward personal independence.
Fostering the Future accounts create the conditions for liberty to thrive. Success is measured not by the number of benefits a person receives, but by the level of independence they achieve.
Starting today, the Treasury will enable state child welfare agencies and foster youth representatives to establish Fostering the Future Accounts for children in foster care.
We already have tangible 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 moment for collective action. All 50 states should commit to safeguarding America’s foster youth. Let’s prioritize America’s children above politics.
I encourage every governor and business leader in America to contribute to funding these accounts. Together, we can ensure that foster youth enter adulthood with assets, opportunities, and a stronger path to independence. This is a pivotal moment for our nation. We should aim to nurture a generation of builders, creators, entrepreneurs, and leaders whose futures are determined by their ambition, not their circumstances. A solid education and financial assets will equip them with tools for a lifetime.
