First lady Melania Trump and Treasury Secretary Scott Bessent have announced the launch of Fostering the Future Accounts, designed to help foster children. The accounts are a spinoff of the Trump Accounts investment funds meant to give $1,000 to every newborn whose parent opens one. Under the new initiative, child welfare agencies will have the ability to act as a guardian for children in foster care for the purposes of opening an account. The first lady says this move provides foster children with a chance at asset ownership and long-term wealth. Twenty-three Republican governors have pledged support. There are about 330,000 children in the U.S. foster care system.
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First lady Melania Trump speaks about Trump Accounts for children in foster care at the Department of Treasury, Thursday, June 11, 2026, in Washington. (AP Photo/Allison Robbert)
Treasury Secretary Scott Bessent applauds during an event about Trump Accounts for children in foster care at the Department of Treasury, Thursday, June 11, 2026, in Washington. (AP Photo/Allison Robbert)
First lady Melania Trump speaks about Trump Accounts for children in foster care at the Department of Treasury, Thursday, June 11, 2026, in Washington. (AP Photo/Allison Robbert)
First lady Melania Trump and Treasury Secretary Scott Bessent speak about Trump Accounts for children in foster care at the Department of Treasury, Thursday, June 11, 2026, in Washington. (AP Photo/Allison Robbert)
First lady Melania Trump speaks about Trump Accounts for children in foster care at the Department of Treasury, Thursday, June 11, 2026, in Washington. (AP Photo/Allison Robbert)
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