Fostering the Future Accounts program launches with major pledges
New Fostering the Future Accounts program launches July 4 with billions in pledged support.
Event / Politics
Fostering the Future Accounts Program
White House announces Fostering the Future Accounts, a new savings program for foster children with $1,000 contributions. The program, announced by First Lady Melania Trump and Treasury Secretary Scott Bessent, opens for contributions July 4, 2026. Twenty-three Republican governors and major donors including the Dells and Ray Dalio have pledged support.
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2026-08-16 to 2026-11-13 · UTC publication dates
Coverage begins 12 Jun, 00:37 UTC
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What happened
Melania Trump and Treasury Secretary announce Fostering the Future Accounts program
First lady Melania Trump and Treasury Secretary Scott Bessent announced the launch of Fostering the Future Accounts on Thursday at the Treasury Department. This program is a spinoff of the Trump Accounts investment fund initiative that gives $1,000 to every newborn whose parent opens an account. The new federal guidance allows child welfare agencies to act as guardians for children in foster care to open these accounts.
Twenty-three Republican governors pledge support for Fostering the Future Accounts enrollment
Twenty-three governors, all Republicans, have pledged to allow their state agencies to begin the process of enrolling foster children in the Fostering the Future Accounts program. First lady Melania Trump urged all governors and business leaders to help fund these accounts.
Fostering the Future Accounts program opens for contributions on July 4, 2026
The Fostering the Future Accounts will be open for contributions starting July 4, 2026. To qualify for an account, a child must be a U.S. citizen born between January 1, 2025, and December 31, 2028. The White House Council of Economic Advisers estimates that a Trump Account balance for a baby born in 2026 will reach $5,800 by age 18 and $18,100 by age 28 if no additional contributions are made.
Ray Dalio and wife pledge $75 million for Trump Accounts in Connecticut
Hedge fund founder Ray Dalio and his wife Barbara pledged $75 million for kids under 10 in Connecticut, where the Dalios live, as part of contributions to the Trump Accounts matching program.
Michael and Susan Dell pledge $6.25 billion to Trump Accounts program
Michael and Susan Dell announced a $6.25 billion donation to the Trump Accounts initiative. This contribution is part of broader commitments from employers and billionaires across the country to make matching Trump Accounts contributions for employee benefits.
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